Octopus Energy buys MN projects to build 2 GW in Germany

UK-based Octopus Energy Generation, the renewable energy unit of Octopus Energy Group has acquired MN projects GmbH, a German developer of solar and battery storage projects. MN is working on over 70 solar and battery storage sites across Germany, with a total planned capacity of 2 GW. These projects are planned to give solar power to 500,000 homes and battery backup for 150,000 homes. Octopus made the deal through its Energy Development Partnership to help Germany reach its goal of 80% renewable electricity by 2030. This was Octopus’s ninth investment in Germany in under three years. The company also supplies energy to over 800,000 customers and is expanding its local wind energy program.