Octopus boosts US solar power expansion

Solar Farm in Ohio created by Grok on X

Octopus Energy’s generation arm has announced further investment in US solar power, part of its ongoing $2 billion plan to support renewable energy development across the country.

This latest move comes just three months after the company made its first US renewables investment by acquiring solar farms in Ohio and Pennsylvania.

The new investments involve two solar developers: Circal and Zestec.

Octopus has backed Circal to expand its solar farm projects, which include multiple gigawatts of planned developments across the US and Ireland.

Circal aims to create 600MW of solar farms in the US over the next five years, with a focus on Texas, which would generate enough renewable energy to power 40,000 homes.

UK-based Zestec, which is also supported by Octopus, is establishing operations in the US to install solar panels on commercial rooftops and land.

The company plans to target businesses such as warehouses and logistics centres, installing solar panels at no cost to the businesses, with a focus on Texas and the East Coast.

The deals were made through the Octopus Energy Development Partnership (OEDP) and Sky funds managed by Octopus.

They add to the company’s global efforts to support both rooftop solar and large scale renewable energy projects.

The post Octopus boosts US solar power expansion appeared first on Energy Live News.

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About Stu Turley 4118 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.

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