Octopus Energy has unveiled its ambitious plan to channel £15.5 billion into global offshore wind projects and farms by the end of this decade.
The firm’s renewable energy division declared that this significant investment will be used to generate 12 gigawatts of green electricity annually, which is sufficient to electrify 10 million homes.
The funding will be allocated towards enhancing the existing wind farms, supporting those currently under construction, and aiding the creation of new offshore wind ventures globally, with Europe being a primary focus.
Being a major player in the field of sustainable energy and technology, managing £6 billion worth of green energy projects around the world, Octopus Energy already has several prospective deals lined up.
The company confirmed that this enormous investment would not only help boost clean energy production worldwide but would also generate a significant number of jobs.
Speaking about the announcement, Zoisa North-Bond, the CEO of Octopus Energy Generation, said, “Offshore wind has already drastically changed the UK’s energy landscape, and we are highly enthusiastic about the global prospects of this technology.”
