Octopus Energy acquires British solar developer

Octopus Energy Group has announced the acquisition of Zestec Renewable Energy in order to install inexpensive solar panels on the rooftops of British businesses, hence reducing energy costs.

Zestec is installing approximately 160 MW of new UK solar energy to sell to organizations hosting solar panels through power purchase agreements (PPA). SMEs, public sector organizations like schools and local councils, and large corporations can profit from self-generated green power without paying for solar system installation.

By 2027, Octopus Energy Generation will support approximately 100 projects from 100 kW to 7 MW. The amount of renewable energy produced is equivalent to removing 40,000 gasoline-powered vehicles from the road, hence reducing gas use and pollution.