Octopus Energy has made its first investments in Germany’s solar market.
The company’s generation arm acquired two projects with a combined capacity of 143MW.
According to the company, the first acquisition consists of 122MW Schiebsdorf solar farm from developer Ib Vogt. This will be the company’s largest renewables portfolio in Europe. This solar farm is under construction in Brandenburg.
"With this project we are very proud to further contribute to the energy transition in Germany and to assist Octopus Energy Generation in their efforts to further decarbonise electricity production,” Anton Milner, CEO of Ib Vogt, was quoted in a statement.
He further remarked that the company will provide full engineering, procurement, and construction (EPC) services for the projects. In addition, it will also handle future operations and maintenance.
Similarly, the second acquisition consists of the 20.8MW Hartung Hof solar farm, which has been operational since last year. The project is located in the vicinity of Saarbrucken in Saarland.
The latest projects come at a time when Octopus has planned to channel more than €1bn of investment into green energy infrastructure in Germany by 2027, it said.
Octopus Energy Generation chief executive Zoisa North-Bond was quoted in a statement, “We have reached a major milestone with these investments - they are not only our first move into solar in Germany, but Schiebsdorf will also become the largest solar farm in our European generation portfolio.”
The company entered the German renewables sector only 18 months ago, and has several projects across solar, onshore wind, offshore wind and storage in the pipeline.
Comments