Octopus Energy Generation, a UK-based renewable energy investor and asset manager, has committed nearly $1 billion to clean technology investments in California. The company has acquired a solar and battery project that is expected to become operational by July 2026. It has also backed two carbon removal firms focused on grassland restoration and reforestation activities. The identified carbon credit offtakers are aligned with these restoration-based removal projects. Octopus has allocated capital to heat battery systems developed in the Bay Area. These heat battery systems are designed to replace fossil-fuel boilers in hard-to-electrify industries. The investment forms part of Octopus’s broader plan to deploy $2 billion in the US by 2030. Octopus Energy Generation manages 4.9 GW of renewable assets across 21 countries. The company’s renewable portfolio is currently valued at £7 billion, equivalent to $9 billion.