Clean energy investors Octopus Renewables has announced a partnership with Gridsource to develop up to 500MW of new solar and battery storage projects in the next 5 years, investing over £250 million.
The projects will be managed by Gridsource, a specialist in the development of renewable energy projects in the UK, and added to Octopus Renewables’ 1.2GW solar portfolio.
This latest announcement follows investments made earlier this year into Zestec Renewable Energy (a solar rooftop developer), Simply Blue Energy (a floating offshore wind developer), and Eclipse Power Networks (an independent distribution network operator).
Commenting on the partnership, Peter Dias, Investment Director at Octopus Renewables, said:
“UK solar and battery capacity are key assets to bolster in the move to a decentralised, green grid. We’re excited to be partnering with Gridsource and expect that this partnership will allow our funds to invest £250 million into these projects around the UK to bring even more renewable energy projects online and speed up the transition to a clean energy future.”
Steven Gay, Development Director at Gridsource, commented:
“Solar and battery storage developments play a pivotal role in the transition to a clean energy system. We’re delighted to be partnering with Octopus Renewables, an organisation that owns the largest solar investment portfolio throughout Europe, and excited to be part of the transition towards net zero. ’’