Octopus

The fund has already made its maiden investment in renewables developer Exagen to build new green energy and rapidly grow the energy storage capacity in the ...

[Zoisa North-Bond](https://www.linkedin.com/in/zoisa-north-bond-33143a4/?originalSubdomain=uk), CEO of Octopus Energy Generation said: “This fund is helping to unlock huge amounts of new renewable energy across Europe, turbocharging the journey to greater energy security. [Octopus Energy Generation](https://octopus.energy/blog/octopus-energy-generation/), OEDP will focus on solar, onshore wind and energy storage projects in the U.K. There’s also potential to optimise assets through [KrakenFlex](https://www.krakenflex.com/), Octopus’ rapidly growing flexibility and trading platform, which currently manages 1,300 MW of green energy assets. Dubbed the Octopus Energy Development Partnership (OEDP), the fund will back early stages of building new green energy, vital to help reduce Europe’s dependence on gas imports and to lower energy bills in future. The new funding will allow the startup to buy one of the U.K.’s largest batteries at 500 MW / 1 GWh located in the Midlands, England, currently in development and scheduled to be operational by 2027. Partnering with farmers, landowners and local communities to build projects that help bring energy security, Exagen works on large-scale solar and battery facilities.