Britain's Octopus Energy has acquired the French operations of Sweden-based OX2, a company developing solar power plants on agricultural land. Octopus plans to retain the French team and expand its solar portfolio. France has faced delays in building solar farms due to permitting issues and a lack of a streamlined national energy plan. Octopus Energy plans to invest over 1 billion euros (~$1.03 billion) in France’s clean energy infrastructure by the end of 2025. The acquired company aims to develop 500 MW of solar energy in France by 2031, utilizing agricultural land. This marks Octopus’ largest deal in France to date, following its acquisition of a rooftop solar project portfolio on French farms. The cost of the acquisition was not disclosed.
Octopus Energy and OX2: €1 billion French solar investment
OX2's French solar business acquired by Octopus Energy, targeting 500 MW by 2031 and €1 billion investment in clean energy by 2025. More about the acquisition here.
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