Octopus Energy: building the foundations of a low-carbon economy

17 December 2021

‘There’s huge potential for the Australia-UK Free Trade Agreement to allow even more investment and innovation and build the foundations of an affordable low-carbon economy in both countries.’

Rachel Fletcher, Director for Regulation & Economics, Octopus Energy Group

Founded in 2000, Octopus Energy is one of the UK’s fastest-growing companies. The firm’s energy investment business, Octopus Renewables, is Europe’s largest investor in solar power and a leading investor in onshore wind. It manages a global portfolio of renewable assets valued at over £3 billion.

In 2021, Octopus Renewables was acquired by its sister company Octopus Energy. The group’s UK energy technology business, Octopus Energy Group, is a double unicorn. It is also the UK’s fastest-growing and sixth largest energy supplier, serving over 2 million British customers.

After establishing as Octopus Investments in Australia in 2017, the firm announced its first project, the Darling Point Solar Farm in New South Wales.

In 2020, one of Australia’s largest energy companies, Origin Energy, acquired a 20% stake in Octopus Energy. The partnership allows Origin Energy to deploy Octopus Energy’s technology platform ‘Kraken’ in Australia, fast-tracking Origin Energy's ambitions to roll out cleaner and smarter energy solutions.

By 2027, Octopus Energy plans to serve 100 million homes across the globe on its Kraken technology platform.

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‘Clever policy decisions by governments around the world have led to a rise of renewable energy across the globe,’ says Rachel Fletcher, Director for Regulation & Economics, Octopus Energy Group. ‘But more needs to be done to increase investment in green energy technology, which will provide more homeowners and businesses with greener and cheaper energy.

‘Our partnership with Origin and Nectr has already shown what Britain and Australia can do together to implement this technology and provide millions with green energy at no huge mark-up,’ she says.

‘There’s huge potential for this Free Trade Agreement to allow even more investment and innovation and build the foundations of an affordable low-carbon economy in both countries.’

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