The solar farms will have a combined capacity of 222 MW and construction of three of the sites will begin later this year with construction of the fourth beginning in 2025. The solar farms are scheduled for operation in 2025-2026 and will generate enough power for 80,000 homes, displacing emissions equivalent to those produced by 35,000 fossil fuel cars from the road every year. The investment by Octopus comes as the government is targeting a tripling of solar capacity by 2030.
The 12 MW battery in Cheshire will store enough power to keep nearly 10,000 homes running per day. Octopus Energy now supports 16 onshore wind farms, 3 offshore wind farms, 3 battery projects, 138 solar farms, and thousands of rooftop solar projects in Britain.
The new solar farm deals were agreed on behalf of the Octopus Energy Development Partnership (OEDP) and Sky fund (ORI SCSp), managed by Octopus Energy Generation.
Octopus recently increased its stake in Exagen, a fast-growing British solar and storage developer, to 100 percent through its OEDP fund. It first invested in Exagen in 2022 and has upped this to speed up the rollout of new renewables projects in the UK.
Following the Government's onshore wind planning reforms in England, Octopus is also submitting multiple applications for new wind turbines this year. These will join Octopus' much-loved 'Fan Club' scheme, which gives customers close to the turbines up to 50 percent discounted rates when the wind is blowing.
“The UK is on the verge of a green energy revolution” said Zoisa North-Bond, CEO of Octopus Energy Generation. “This £2 billion investment in homegrown renewables will help boost our energy security and pave the way for a more affordable energy future. Solar and onshore wind are among the cheapest energy sources available. By building closer to demand, we can maximize green electricity when it's abundant and lower bills for customers nationwide.”
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