Britain’s third largest energy company, Octopus Energy, has announced that it now plans to make a €1 billion investment in the green energy market of France during the next couple of years. The planned investment will be employed to accelerate France’s energy transition and generate sufficient local green power to provide energy for 300,000 households across the country.
A spokesperson for the company commented:
“Octopus operates across 10 European countries, and today we’re delighted to announce a huge increase in our cooperation with France.”
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Octopus Energy aims to building on its existing investments in France, launching a brand-new European tech hub in the country’s capital of Paris via its subsidiary company Kraken. The all-new hub will also create hundreds of jobs in the clean energy sector and support millions of Octopus Energy customers throughout Europe,
The UK energy retailer first started working in the French energy market back in January last year, when it acquired Plüm énergie, the French energy supplier.
While providing better customer service and lowering prices, the company’s French operating division is also rewarding and helping French households to reduce their energy consumption via innovative products. Its customers are already using 10% less energy than average French homes.