Octopus Energy has moved significantly in France, acquiring agrivoltaics developer OX2 France from OX2 AB. This acquisition positions OX2 as a leader in combining solar energy generation with agriculture, enhancing land use and biodiversity.
“France is a shining market for us as we continue to scale renewable energy across Europe. OX2 France has been leading the way in agrivoltaics, proving that solar power and agriculture can thrive together for a cleaner future. By joining forces, we are one step closer to creating more sustainable energy solutions for millions of people in France and beyond,” Zoisa North-Bond, CEO of Octopus Energy Generation, said.
Octopus has a pipeline of 21 projects across Nouvelle-Aquitaine, Centre-Val de Loire, and Auvergne-Rhône-Alpes, aiming to develop nearly 500 MW of capacity by 2031, which would more than double its current capacity.
Eric Bonnaffoux, Country Manager of Veles Energies, said: “With the support of the OX2 AB teams, OX2 France has been able to grow and develop high-quality solar projects over the last few years. Now we are very excited and proud to be joining Octopus’s Sky fund (ORI SCSp), managed by Octopus Energy Generation, as we embark on an exciting new chapter. This partnership will enable us to further develop and operate our solar projects, advancing our mission to provide renewable green energy to France.”
This acquisition is part of Octopus’ broader strategy to invest over €1 billion in France’s clean energy infrastructure by 2025, and it recently secured a spot in the French government’s offshore wind tender. Additionally, the deal follows Octopus’ purchase of Sungen 10, a portfolio of rooftop solar projects on French farms, and marks the Sky fund’s first investment in a French developer.
Finally, this collaboration continues Octopus Energy Generation’s work with OX2, including previous wind farm acquisitions in Sweden.
