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Octopus Energy expands its French portfolio by acquiring agrivoltaic developer OX2 France

Octopus Energy’s generation arm has made its latest leap into the French renewable energy market by acquiring agrivoltaics developer OX2 France from OX2 AB.
Octopus Energy expands its French portfolio by acquiring agrivoltaic developer OX2 France
An agrivoltaic plant in German. Courtesy of Toni Kellner/Wikipedia Commons.

The company is currently building a pipeline of 21 projects across the French regions of Nouvelle-Aquitaine, Centre-Val de Loire, and Auvergne-Rhône-Alpes. If all these projects reach completion, the aim is to then target close to 500 MW of capacity in France by 2031 – more than doubling Octopus Energy’s current capacity.

The acquisition includes OX2 France’s entire market-leading team, adding additional invaluable expertise with a successful track record of developing projects.

France is the company’s largest green generation market in continental Europe. Octopus has plans to channel over 1 billion euros into the country’s clean energy infrastructure by the end of 2025, with multiple deals in the pipeline. The French government has also chosen the company to take part in France’s upcoming offshore wind tender – another first for the company.

Octopus recently acquired Sungen 10, a portfolio of more than one hundred rooftop solar projects on top of French farms, working with local partners to develop even more rooftop solar installations over the next few years.

“France is a shining market for us as we continue to scale renewable energy across Europe” said Zoisa North-Bond, CEO of Octopus Energy Generation. “OX2 France has been leading the way in agrivoltaics, proving that solar power and agriculture can thrive together for a cleaner future. By joining forces, we are one step closer to creating more sustainable energy solutions for millions of people in France and beyond.”

This deal also marks the latest in Octopus Energy Generation’s work with OX2, including acquiring wind farm projects from OX2 in recent years in Sweden.

Earlier this year, the French government published Decree No. 2024-318, which sets conditions for the installation of solar panels on agricultural land, while also clarifying the definition of agrivoltaics and stipulating that solar power plants should not negatively impact soil potential or cause agricultural yield losses of more than 10 percent.

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Octopus Energy Generation

OX2

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