Octopus Energy Generation has pledged to invest £2bn into UK clean energy projects, including 222MW of solar capacity, by 2030.
These investments include four new solar farms being developed by BayWa r.e. in Bristol, Essex, East Riding of Yorkshire and Wiltshire.
Construction on three of these solar farms will start later this year and the fourth in 2025.
The sale includes the project rights for the 50MW Perrinpit Road solar park, BayWa r.e. has developed under a joint venture with Grune Energien Solar.
The three other projects are ready to build, with construction set to start this year.
They are, Driffield a 48MW solar park, located about 50 km east of York, South Fambridge Hall, a 52 MWp solar park, located in Rochford, Essex and Corner Copse, a 72MW solar park, near Swindon, Wiltshire.
BayWa r.e. will construct all three projects under an EPC arrangement.
Driffield has also been developed to include a 30MW battery energy storage system (BESS) which will be built by Octopus.
BayWa r.e. will also manage the solar assets including O&M.
Christine McGregor, Managing Director, UK & Ireland at BayWa r.e., said: “Thanks to the efforts of our strong team in the UK, we were able to prepare these high-quality solar projects for a successful construction phase which will commence soon, ensuring a near-term start of green energy production.
“We are looking forward to building upon our reliable partnership with Octopus Energy Generation, and together, contribute to the UK’s ambitious plans to accelerate the energy transition.”
The new deals were agreed on behalf of the Octopus Energy Development Partnership (OEDP) and Sky fund (ORI SCSp), managed by Octopus Energy Generation.
They are due to be operational between 2025 and 2026.
Octopus is also breaking ground on a new 12MW battery in Cheshire.
With these latest additions, Octopus now backs 16 onshore wind farms, three offshore sites, three battery projects, 138 solar farms and thousands of rooftop PV schemes in Britain.
Octopus recently increased its stake in Exagen, a British solar and storage developer, to 100% 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’ “Fan Club” scheme, which gives customers close to the turbines up to 50% discounted rates when the wind is blowing.
Octopus Energy Generation chief executive Zoisa North-Bond said: “The UK is on the verge of a green energy revolution.
“This £2bn 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 maximise green electricity when it’s abundant and lower bills for customers nationwide.”
Source: reNews
