Octopus expands French renewables commitments to £1bn

Octopus Energy Generation, a specialist investor in renewable energy has reached its £1bn investment target aiding France's transition to clean energy.

The milestone – reached in just three years –highlights the opportunity for renewables in France, the manager said. Having ramped up its presence, Octopus said it generated enough power for 120,000 homes - roughly equivalent to the city of Lille.

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The firm's French strategy now features assets across multiple regions with green power projects stretching from North to South, including Hauts-de-France, Grand Est, Brittany, Centre-Val de Loire, Nouvelle-Aquitaine, Provence-Alpes-Côte d’Azur, and more.

To navigate the strict environmental regulations and land-use constraints, Octopus has focused heavily on multi-use land strategies working alongside local land use - including solar farms on former military bases also used for sheep grazing, and solar projects combined with agriculture. This dual-use of land reduces local development friction and goes with regional planning requirements.

Zoisa North-Bond, CEO at Octopus Energy Generation, said: "France was one of the first markets we invested in, and it’s a place we’ve always seen huge renewables potential. By backing projects making the most of France’s abundant wind and sunshine, we’re helping bring cheaper, greener electricity to thousands of homes while strengthening the country’s energy security.”

Beyond its current operations, Octopus is actively positioning itself to expand further within the region. Octopus currently has an additional 2 GW of green energy projects in its active development across France, aimed at delivering more affordable, clean power to the local grid over the coming years.

This expansion directly aligns with France’s economic shifts to decarbonise. France is the largest generation market in continental Europe. The French government has established national targets to optimise its renewable infrastructure by 2035,aiming for 35-40 GW of onshore wind and 55-80 GW of solar by 2035.

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