Octopus says “buongiorno” to Italian generation market

The company has set a target to create 1.1GW of renewable energy capacity in Italy by 2025

Octopus Energy has announced it has entered Italy’s green power market by investing in renewables developer Nexta.

Octopus Energy Development Partnership (OEDP) has created a joint venture with the Milan-based company.

The companies have vowed to create 1.1GW of new offshore wind, solar farms and energy storage in the south of Italy by 2025.

This capacity is forecast to power 1.2 million homes.

Zoisa North-Bond, Chief Executive Officer of Octopus Energy Generation, commented: “To avoid a repeat of the energy crisis, it’s essential we turbocharger the creation of new renewable energy and shift to a low carbon energy system.”

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