Octopus Energy buys Japanese solar designer

• Deal marks UK company's first step into the Asian renewables market

Octopus Energy's generation arm - which manages ₤ 6bn of green energy properties internationally - has actually announced its financial investment in Japanese solar designer Yotsuya Capital with the objective to speed up the country's energy transition.

The deal marks Octopus' very first step right into the Asian renewables market, with more projects currently in the pipe in Japan and throughout the continent.

The first seven figure investment, which was made on behalf of the Sky fund (ORI SCSp) which is handled by Octopus Energy Generation, will allow Yotsuya Capital to develop 250MW of new solar farms in Japan in the next five years.

Yotsuya Capital is a renewable energy programmer with a core concentrate on solar energy, based in Tokyo.

It is looking to create solar farms in all areas of Japan, on sites where solar can include value to surrounding areas. Yotsuya intends to market the energy produced in the form of long-lasting company PPAs.

Zoisa North-Bond, chief executive of Octopus Energy Generation, stated: "There's a massive possibility to aid meet Japan's renewables targets and accelerate its clean energy transition.

" This investment in fast-growing solar developer Yotsuya is our initial step into Asian renewables - and it's just the beginning. We have actually obtained big strategies to scale our team in Asia, and invest in and develop even more green power throughout the continent."

Toshiaki Isoi, chief executive and representative participant of Yotsuya Capital added: "This funding from Octopus is transformational for us.

" It suggests we can increase our growth to the next level and also establish far more solar across Japan in the coming years.

" It aids us contribute to Japan's net zero target by 2050 while also making a favorable effect on the regional community."