Octopus Energy Solar Farms Drive Global Renewable Energy Expansion
Octopus Energy has announced its first project in Asia with plans for 20 solar farms in South Korea. This ambitious endeavor will generate over 150 megawatts (MW) of clean energy—enough to power approximately 60,000 homes. The move significantly expands the global footprint of Octopus Energy while supporting South Korea’s commitment to increasing its renewable energy capacity.
The first solar farm is expected to be operational by mid-2025. Once complete, the entire project is projected to prevent over 110,000 tonnes of CO2 emissions annually. According to PV-Tech, this initiative will also benefit from the South Korean government’s Renewable Energy Certificates (REC) scheme, designed to bolster the country’s clean energy production.
The South Korean government has set a target to generate 21% of its electricity from renewable sources by 2030. Octopus Energy’s investment marks a significant contribution toward this goal. Kim Hong-guk, head of the REC division at the Korea Energy Agency, welcomed the news: “We welcome Octopus Energy’s investment in the Korean renewable energy market and look forward to seeing the positive impact this project will have on South Korea’s clean energy transition.”
This investment strengthens Octopus Energy Generation’s expanding global portfolio, which now includes over 7 gigawatts (GW) in generation and storage assets. The company has developed solar, onshore, and offshore wind projects in the UK, US, Germany, Sweden, Italy, France, Spain, and Australia. Zoisa North-Bond, CEO of Octopus Energy Generation, emphasized the project’s global significance: “The energy transition is a global challenge, and we need to do all we can to help bring more renewables online. We’re proud to be entering a brand new market with this first investment in South Korea.” Explore more about Octopus Energy’s global initiatives.
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Beyond developing renewable energy assets, Octopus Energy has also been active in grid flexibility. In the UK, the company recently launched a service providing additional capacity to help the National Grid balance supply and demand, ensuring customers can use energy without disruption from grid constraints. For more in-depth news on the company’s projects, visit PVknowhow.com.
