The Financial Conduct Authority has approved Octopus Energy‘s acquisition of Octopus Renewables.

The deal will add more than 300 solar, onshore wind and biomass projects worth £3.4 billion to Octopus Energy’s asset management portfolio.

Chris Hulatt, Chairman of Octopus Renewables and Co-Founder of Octopus Group, said: “This finalised deal present a huge opportunity for the two teams to come together and unleash pent-up capital that can help deliver the green energy transition faster than anyone ever imagined.”