Octopus Energy has invested in solar farm developer Circal, with a target of creating 600 MW of new solar farms in the U.S. within the next five years, with a focus on Texas.
Octopus-backed, U.K.-based solar developer Zestec is also setting up shop in the U.S., to build solar panels for commercial and industrial businesses. It, too, is targeting the Texas market, as well as Massachusetts, New York and New Jersey.
The company says businesses like warehouses and logistics centers will be able to get solar panels installed by Zestec at no cost.
These latest deals were made on behalf of the Octopus Energy Development Partnership and Sky funds it manages.
“The U.S. continues to break its records with the amount of clean, cheap solar power it is building,” says Zoisa North-Bond, CEO of Octopus Energy Generation.
“We entered America’s renewables market just three months ago and have big ambitions to build even more green power. With these deals we’re helping power up the green energy revolution across the USA to create a cheaper, greener future.”
This deal comes three months after Octopus made its first renewables investments Stateside, with the acquisition of solar farms in Ohio and Pennsylvania.