Octopus issues important message to energy customers over 'next steps'

Octopus Energy has backed a tech disruptor to turbocharge floating offshore wind farms globally. Investment into Ocergy will create green jobs globally, starting in France and US, the energy firm - which is rivalled by British Gas, OVO, EDF and EOn and more - said.

Innovative tech is set to slash the cost and time of building floating offshore wind. It marks the next step in Octopus’ plans to unleash billions into the global offshore wind sector following the launch of Vector, its offshore wind fund.

The green tech disruptor is already working with over a dozen major developers across multiple gigawatts (GW) of projects, with their first foundations to be installed by 2025/26. Around 80 per cent of global offshore wind resources are located in deep waters, underscoring this technology’s vast untapped potential.

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It comes as governments across the globe have set ambitious targets for floating offshore wind. The UK alone is targeting 5 GW of floating offshore wind capacity by 2030.

Zoisa North-Bond, CEO of Octopus Energy Generation, said in a statement over the move: “Tech and innovation are fueling the energy revolution globally, so we’re always on the hunt for game-changing solutions that accelerate progress.

"Ocergy’s groundbreaking approach has the power to slash the costs of floating offshore wind – and with our investment they will get there faster, paving the way for cleaner, greener energy systems across the globe.”

Dominique Roddier, CEO of Ocergy, said: “At Ocergy we are incredibly enthusiastic about this collaboration with Octopus Energy Generation. It will empower us to scale up our operations and concentrate on delivering both pre-commercial and large-scale floating offshore wind projects.

"There are lots of synergies between Octopus' forward-thinking efforts in offshore wind and Ocergy's accomplishments to date - and we foresee significant boost in the bankability of our projects as a result.”