Multiple investments made by the fastest-growing energy disruptor in Spain will see the latest renewable solar and battery storage technology rolled-out to more than 1 in 10 homes around the country.
Octopus Energy is supercharging the energy transition there by investing in three new projects that will deliver 600MW of clean energy – enough to power 2.3 million homes, or over 10% of Spanish homes.
The announcement came at a Trade and Investment Roundtable under the Strategic Bilateral Framework, agreed between the Kingdom of Spain and the United Kingdom of Great Britain and Northern Ireland.
Made through the £2bn Octopus Energy Generation ‘Sky’ fund (ORI SCSp), the investments include newly acquired solar farms in Navarre and Albacete (pictured above) generating a combined 100MW, plus a battery storage developer targeting 500MW of capacity over the next five years.
Octopus has recently invested in One Solar (now rebranded One Hub Energy), a Barcelona-based energy advisory firm aiming to help businesses build and run solar and battery projects more efficiently.
Fastest-growing disruptor
Since entering Spain three years ago, Octopus has grown its retail business at rapid speed, becoming recognised as the country’s fastest-growing energy disruptor with over 350,000 customers.
The company is on track to reach one million customers by 2027 — even outpacing its early growth in the UK — by delivering smarter, cheaper, and greener energy solutions for households and businesses.
Building on its success in the UK, Octopus is helping transform homes across Spain with its smart EV charging tariff, Intelligent Octopus Go, plus more than 7,000 solar panel and EV charger installations.
The opportunity for market growth is exciting, says Zoisa North-Bond, CEO of Octopus Energy Generation:
“Octopus Spain is unlocking the full potential of the country’s abundant clean energy — from cutting-edge battery storage and solar farms to cheaper electricity for households and businesses. Every project we deliver adds more green power to the system and brings smarter, more sustainable energy solutions to communities.
“Spain’s appetite for the energy transition is truly remarkable.”
Clean energy and machine learning
As one of Europe’s largest specialist renewables investors, Octopus Energy Generation manages 4.9GW of green energy projects such as wind and solar farms in 21 countries, together worth £7bn. These generate enough green power for 2.4M homes every year — equivalent to taking over 1M petrol cars off the road.
In its entirety, the Octopus Energy Group is a global clean energy tech business, serving and supplying almost 10M households worldwide. Its operations span 32 countries and the entire energy value chain.
In addition, Octopus has licensed its advanced data and machine-learning platform, Kraken, to support over 60M customer accounts worldwide via deals with companies such as EDF, E.ON and Origin Energy. Kraken enables Octopus to drive electrification of heat and transport through smart tariffs and innovative cleantech.
Further Reading:
- More about Octopus Energy Generation ; and the wider Octopus Energy Group;
- More about Barcelona-based energy advisory firm One Hub Energy;
- Also on SustMeme, 91% renewable energy projects now cheaper option;
- Also on SustMeme, Machine learning helps map solar and green roofs;
- Also on SustMeme, Petrol pump RIP: UK filling stations gone by 2038;
- Also on SustMeme, One-tap card charging for electric cars and planes;
- Also on SustMeme, Planning for grid-scale energy storage in Scotland;
- Also on SustMeme, Investment in renewables falls short of 2030 goal;
- Also on SustMeme, Record, but inequitable, growth in renewables;
- Also on SustMeme, World’s biggest vanadium flow battery will time-shift solar in Australia.
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