Octopus is investing in three new wind farms providing enough energy for 30,000 homes. This announcement follows Octopus’ commitment to invest €1 billion in the French green energy market over the next two years. This comes as Octopus joins business leaders gathered at the “Choose France” summit to accelerate investment in the French economy.
Combined capacity of 49 MW
The three onshore wind farms – Croix Erable, Bertaut and Le Langrois – have a combined capacity of 49 MW and will add to the 10 existing wind farms the company already manages in the country, bringing the total to 13. The company also manages 14 French solar parks and has many other projects in progress. The wind farms will be located in the Vienne region in the west and in the Haute Marne region in the northeast. Construction has already begun and will be operational throughout 2023 and 2024. The Nordex turbines installed at the sites will produce enough green energy to power 30,000 homes.
French and European ambitions
This investment follows Octopus Energy Group’s early commitment to invest €1 billion in the French green energy market over the next two years. Octopus aims to generate enough local green energy for 300,000 French homes, while offering lower costs and better customer service through its retail energy supply arm. France is one of the most active wind energy markets in Europe, with 2,000 MW of new wind farms planned for construction in 2022 alone. Renewable energies represent 25% of the French energy mix, with measures announced to further increase this share.
Octopus wants to create enough green energy projects in Europe to power 15 million homes by the end of the decade. Octopus Energy Generation, which manages £6 billion of renewable assets and energy transition projects around the world, acquired these three remaining wind farms on behalf of the Sky fund (ORI SCSp). Octopus Energy Group entered the French market in January 2022 after acquiring French energy provider Plüm énergie. The company aims to reach 1 million customers in France by 2026.
