Octopus Acquires 80MW Agri-Solar Portfolio in France

• Octopus Energy acquires 80MW agri-solar farms in France, transforming military bases into green energy hubs with sheep farming. A strategic leap in sustainable energy.

Octopus Energy Generation has acquired an 80MW agri-solar portfolio in France, consisting of two 40MWp solar farms located on former military bases now used for sheep farming. The Stronghold solar portfolio includes projects in the Indre region and Charente Maritime. Renewable energy consultancy Natural Power conducted technical due diligence for the acquisition from BayWa r.e France.

Natural Power's due diligence involved reviewing engineering, procurement, construction, operations, and maintenance agreements, as well as project technology, design, permits, and financial models. Octopus Energy's investment director praised Natural Power's expertise, highlighting the strategic importance of the acquisition in advancing sustainable energy deployment in Europe.

How does Octopus Energy's acquisition impact sustainable energy deployment in Europe?

• Enhances Octopus Energy's renewable energy capacity, contributing to Europe's overall sustainable energy goals.
• Supports the transition from fossil fuels to renewable energy sources, aligning with EU climate targets.
• Promotes the integration of solar energy into agricultural practices, demonstrating a dual-use model that maximizes land efficiency.
• Strengthens Octopus Energy's presence in the European renewable energy market, potentially leading to further investments and projects.
• Encourages innovation in renewable energy technologies and practices through collaboration with experienced consultancies like Natural Power.
• Provides a model for repurposing former military sites for renewable energy, showcasing sustainable land use practices.
• Contributes to local economies by creating jobs in the construction, operation, and maintenance of solar farms.
• Enhances energy security in Europe by diversifying energy sources and reducing reliance on imported fossil fuels.