Exagen bought out by Octopus Energy Generation

Exagen Group has received a full buyout from British energy titan Octopus Energy Generation.

Octopus Energy Generation will now have full ownership of Exagen’s development pipeline, which consists of over 2.4GW of solar energy and battery energy storage system (BESS) projects across England. These projects will add to Octopus Energy Generation’s gargantuan portfolio, which consists of 3.7GW of combined generation capacity across various generation types, and is valued at around GBP 6.7 billion (US$ 9 billion).

The acquisition follows Octopus’s initial investment for a 24% stake in August 2022. This acquisition is on behalf of the Octopus Energy Development Partnership (OEDP) fund, managed by Octopus.