Britain’s Octopus Energy is driving deeper into the Asia-Pacific energy market, announcing plans on Thursday to invest GBP 1.5 billion (USD 1.9bn/EUR 1.7bn) in the region by 2027.
The company intends to spend GBP 1.2 billion on solar and wind generation, with half of the sum destined for Japanese renewables. Another GBP 300 million will be invested to expand Octopus’ tech innovation and energy retail hub in Tokyo, which has helped develop features for the company’s tech platform Kraken.
The British company has a successful joint venture with Tokyo Gas in Japan, which was launched in 2021. It said that the new business is growing at a very strong rate and boasts almost 200,000 retail customers.
“Linking our businesses in Australia, New Zealand and Singapore to the UK and Europe, our operations in Japan have helped create a unique global technology ecosystem benefiting everyone. I’m excited to take it even further with today’s announcement,” commented Octopus Energy Group founder Greg Jackson.
Octopus Energy recently invested in Japanese solar developer Yotsuya Capital.
(GBP 1 = USD 1.244/EUR 1.151)
