Octopus Energy’s generation arm has purchased a 50 per cent share of the German renewable energy company Lintas Green Energy. Reportedly, the move broadens the company’s national reach and accelerates the expansion of the Oldenburg-based green energy provider. The Octopus Energy Sky fund investment makes it easier to build new wind and solar farms, with an aim of 1 GW of clean energy by 2030. This will contribute to Germany’s energy transformation by supplying 370,000 households.
In Lower Saxony, where Lintas Green Energy has already constructed green energy projects, renewable generation initially supplied all of the state’s electrical needs in 2023. In addition, Lintas is advancing in the states of Hesse, Bavaria, and Saxony-Anhalt, where it has 20 projects in progress. With over €1 billion in planned investments for Germany’s clean energy infrastructure by 2027, Octopus Energy is expanding its renewable energy footprint in the country. This investment is a part of that strategy.
In December 2023, Octopus Energy’s generation arm announced the launch of a new JV with Nexta Capital Partners to charge up Italy’s battery storage market. The new JV with Nexta will develop up to 1.5 GW of commercial-scale battery storage systems across several projects largely in the south of the country. Once operational, the projects are estimated to be capable of storing and releasing back into the grid enough electricity to power up to a million homes a day.
