UK-based energy group Octopus Energy has acquired its first solar PV portfolio of 142.8MW projects in Germany.
Through its generation arm, the company has bought the 122MW Schiebsdorf solar farm in the eastern state of Brandenburg, its largest renewables project in Europe. The project is currently under construction and is expected to be completed later this year.
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The other project acquired is a 20.8MW plant, operational since March 2023 and located in the western state of Saarland, near Luxembourg.
Both solar farms were acquired by the Sky (ORI Corp) fund managed by Octopus Energy Generation.
In the past 18 months, the UK company closed seven renewables deals – with this one the first for solar PV – in Germany and plans to invest over €1 billion (US$1.1 billion) in renewables by 2027 in the European country.
Zoisa North-Bond, CEO of Octopus Energy Generation, said: “We’ve reached a major milestone with these investments – they are not only our first move into solar in Germany, but Schiebsdorf will also become the largest solar farm in our European generation portfolio.”
Aside from increasing its solar portfolio in Germany, the UK company expanded its portfolio in the country with the acquisition of Shell Energy – both in the UK and Germany – last September, as covered by our sister site Current±.