Octopus acquires solar developer

Zestec has a pipeline of more than 160MW of new UK solar energy

Big Zero Report 2022

Octopus Energy Group’s generation arm has announced the acquisition of UK solar developer and asset manager Zestec Renewable Energy.

The deal will see more than 100 solar projects built on UK businesses’ rooftops.

Zestec is developing a pipeline of more than 160MW of new UK solar energy which will be sold to the organisations hosting the solar panels through power purchase agreements.

Zoisa North-Bond, Chief Executive Officer of Octopus Energy Generation, said: “There’s a significant untapped opportunity in the UK to generate more cheap green power from businesses’ rooftops.

“This space is fast-growing and will help bring more energy security and lower energy bills, all while allowing companies to reduce their carbon emissions.”

Simon Booth, Chief Operating Officer of Zestec, said: “Having worked with the team at Octopus over the last two years, it has become clear that we have a shared ambition to scale in this exciting sector of the renewable energy market.”

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