Octopus Energy divests minority stake to Generation Investment Management

Octopus Energy Group has announced a major strategic partnership with Generation Investment Management, a firm established in 2004 to back businesses driving sustainability and the fight against climate change, in a deal valued at US$4 billion pre-deal, and up to US$4.6 billion post-deal.

The agreement involves the acquisition of a 13% stake, which is worth US$600 million. Octopus will use the proceeds of Generation’s strategic investment to boost its mission to drive the renewable revolution globally.

Octopus, which was founded in 2016, provides energy to 17 million accounts globally, through its own retail businesses plus licensing agreements with Good Energy, Hanwha Corporation, Origin Energy, nPower, and E.ON.