Octopus Energy launches Fan Club with £4bn investment

Octopus Energy Group will raise and create £4bn of global people-led renewable energy projects through ‘Fan Club - The Collective’ by 2030. The initiative will be world leading in combining institutional and retail money to grow green energy projects at scale.

Initially an investment of £10m will expand Octopus Energy’s local wind power tariff ‘The Fan Club’, growing it from two turbines to eight. The tariff enables communities close to the dedicated wind turbines to benefit from cheaper rates when the turbines are spinning, which is 80 per cent of the time.

Following ‘The Fan Club’ model, ‘Fan Club - The Collective’ will initially focus on onshore wind before expanding to solar energy. The solar projects will connect customers to local solar farms so that they benefit from cheaper green power when the sun is shining.

Octopus Energy plans to supply around 2.5 million households with green power through ‘Fan Club - The Collective’ by 2030. The move demonstrates Octopus’s ambition to back decentralised energy generation globally, ensuring the cheapest electron is also the greenest electron for customers wherever they are in the world.

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