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Octopus Energy to invest 1 billion euros in French green energy market

Reuters
·1-min read

LONDON (Reuters) - British energy supplier Octopus Energy said on Friday it will invest 1 billion euros ($1.1 billion) in the French green energy market over the next two years.

The investment will be used to accelerate the energy transition in France and generate enough local low-carbon power to supply 300,000 households. Further details were not disclosed.

Octopus Energy first entered the French market in January 2022 with its acquisition of French energy supplier Plüm énergie. The company is now targeting 1 million customers by 2026 in France.

The plan was announced today at a Franco-British Summit, chaired by UK Prime Minister Rishi Sunak and French President Emmanuel Macron.

($1 = 0.9348 euros)

(Reporting by Nina Chestney, Editing by Louise Heavens)

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