Octopus Energy announces investment in French energy market

Octopus Energy has announced plans to invest €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 green power to supply 300,000 households.

Building on its investments already made in France, the company is launching a new European tech hub in Paris through its subsidiary, Kraken. The new hub will create hundreds of clean energy jobs and support millions of customers across the continent.

Octopus Energy France is also helping and rewarding French households to lower their energy consumption through innovative products. The company’s customers already use 10% less energy than the average French household, and Octopus is committed to continue innovating to help French consumers use less, but stay warm.

Announcing the plans at the 36th Franco-British Summit, Octopus Energy CEO and Founder, Greg Jackson, comments, “Octopus operates across 10 European countries, and today we’re delighted to announce a huge increase in our cooperation with France.

“We’re planning to invest an extra billion Euros in French generation – but we’re also going to make Paris our EU technology hub. This is testament to the mutual commitment to investing in a clean energy system, and pioneering the digitisation which will drive costs down alongside carbon.”

Vincent Maillard, CEO of Octopus Energy France, comments, “We are very proud to see Octopus Energy’s role in France’s energy transition recognised at the highest level of the French government.

“In doing so, the group combines retail energy expertise, major investments in renewable generation and cutting-edge technology to unlock innovative tariffs and deliver an outstanding customer experience to French households.”

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