UK energy firm Octopus Energy’s generation arm is investing in Circal, a Dublin-based developer which aims to set up 600 MW of new solar farms in the US in the next five years.

Circal plans to build fresh capacities mainly in Texas, expecting to secure green power for about 40,000 households with its projects. The investment from Octopus is to support the company’s expansion.

The UK energy firm also disclosed that Zestec, a solar developer backed by Octopus, is now starting operations in the USA, aiming to build solar panels on commercial and industrial rooftops and land. The firm will be active in states such as Texas, Massachusetts, New York, and New Jersey.

The latest moves are in line with Octopus’s plan to invest USD 2 billion (EUR 1.79bn) in the US clean tech market over the next few years. In June, the company announced its first investment in US renewables assets with the purchase of two operational solar projects with a combined capacity of 100 MW from developer and operator Vesper Energy. Previously, Octopus invested in US-based floating offshore wind tech firm Ocergy and nature projects startup Cultivo.

In parallel to the USA, the London-based firm also plans intensive activities in its domestic market. Just days ago, Octopus disclosed a goal to invest GBP 2 billion (USD 2.68bn/EUR 2.4bn) in clean energy projects in the UK by 2030.

(USD 1 = EUR 0.896)

(GBP 1 = USD 1.339/EUR 1.200)

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