British company Octopus Energy is expanding into projects sustainable energyin the UK, with the aim of providing clean and sustainable sources of electricity generation in light of the energy crisis affecting all parts of the European continent.
And the countries of the old continent suffer from a serious shortage of supplies Natural gas Since the outbreak of the Russian war against Ukraine in February this year, as a result of tense relations between Moscow and Brussels, as monitored by the specialized energy platform.
A subsidiary of Octopus Energy Group has acquired British solar developer Zestec Renewable Energy to build more than 100 rooftop solar projects, according to the report. at Reuters.
solar energy on the roof
Zestec is developing a pipeline of more than 160 megawatts of solar energy to enable businesses and public sector organizations such as schools and local governments to benefit from self-produced renewable energy.
Weststord United Kingdom 8% of its oil and 4% gas needs from Moscow, and Britain aims to reduce the use of gas in electricity generation to 65% by 2035 and 100% by 2050, through the expansion of renewable energy projects.
Through a fund managed by Octopus Energy Generation, more than 100 rooftop solar projects will be built by 2027, with capacities ranging from 100 kilowatts to 7 megawatts.
Britain plans to double offshore wind generation capacity and triple the number of solar panels in the country by 2030, and increase the contribution of Nuclear energy 25% of the UK’s electricity mix by 2050, up from 16% today.
During the past year 2021, Octopus and Zestec signed a partnership agreement to rapidly develop solar resources in the UK.
Wind and solar energy are producedhydroelectric energy 42% of UK electricity in the final year 2021, up from just 7% a decade ago.
Acquisition of Zestec
The Zestec acquisition will increase Octopus Energy’s managed solar assets by up to 11%, according to the website. Renews.biz (renews.biz).
Zoisa North-Bond, chief executive of Octopus Energy Generation, said: “There are huge untapped opportunities in the UK to generate more energy. green energy cheap corporate caps; This helps provide greater energy security and lower utility bills, enabling businesses to reduce carbon emissions.”
Energy bills in Britain have risen a further 80% since October (2022), to £3,549 a year ($4,188).
Simon Booth, COO of Zestech, said: “Having worked with the Octopus team over the past two years, it has become clear that we have a shared ambition to expand into this exciting sector of the renewable energy market.”
Financial details of the deal have not yet been disclosed.
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