Octopus Energy Group has launched its new renewables fund Octopus Energy Development Partnership (OEDP). It comes as the fund makes its debut investment in renewables developer Exagen to build new green energy and rapidly grow the UK’s energy storage capacity.
The €220 million OEDP focuses on investing in early stages of building new green energy, vital to help reduce Europe’s dependence on gas imports and to lower energy bills in future.Managed by Octopus Energy Generation, OEDP is targeting solar, onshore wind, and energy storage projects in the UK and the rest of Europe. There is also the potential to optimise assets through KrakenFlex, Octopus’ flexibility and trading platform, which currently manages 1300 MW of green energy assets.This latest multi-million pound deal sees OEDP take a 24% stake in Exagen. Exagen is…