SUSTAINABILITY
Octopus Energy | March 17, 2023
Octopus Energy, the UK’s third largest energy retailer, has announced plans to invest €1 billion in the French green energy market over the next two years.
The investment will be used to accelerate the energy transition in France and generate enough local green power to supply 300,000 households.
Building on its investments already made in France, the company is launching a new European tech hub in Paris through its subsidiary Kraken. The new hub will create hundreds of clean energy jobs and support millions of customers across the continent.
Octopus Energy first entered the French market in January 2022 with its acquisition of French energy supplier Plüm énergie. The company is now targeting 1 million customers by 2026 in France.
While offering better customer service and bringing down prices, Octopus Energy France is also helping and rewarding French households to lower their energy consumption through innovative products. The company's customers already use 10% less energy than the average French household, and Octopus is committed to continue innovating to help French consumers use less, but stay warm.
Announcing the plans at the 36th Franco-British Summit, chaired by Prime Minister Rishi Sunak and French President Emmanuel Macron in Paris today, Octopus Energy CEO and Founder, Greg Jackson, commented: “Octopus operates across 10 European countries, and today we’re delighted to announce a huge increase in our cooperation with France.
We’re planning to invest an extra billion Euros in French generation - but we’re also going to make Paris our EU technology hub. This is testament to the mutual commitment to investing in a clean energy system, and pioneering the digitisation which will drive costs down alongside carbon.”
Vincent Maillard, CEO of Octopus Energy France, commented: “We are very proud to see Octopus Energy's role in France's energy transition recognized at the highest level of the French government.
In doing so, the group combines retail energy expertise, major investments in renewable generation and cutting-edge technology to unlock innovative tariffs and deliver an outstanding customer experience to French households."
About Octopus Energy Group
Octopus Energy Group is a global energy tech pioneer, launched in 2016 to use technology to unlock a customer focused and affordable green energy revolution. It is part of Octopus Group, which is a certified BCorp. With operations in 14 countries, Octopus Energy Group's mission is going global.
Octopus’s domestic energy arm already serves 3.4 million customers with cheaper greener power, through Octopus Energy, Affect Energy, Ebico, London Power and Co-op Energy. In December 2022, it was announced that Octopus would also take on the 1.5 million customers of failed supplier Bulb Energy. Octopus Electric Vehicles is helping make clean transport cheaper and easier, and Octopus Energy Services is bringing smart products to thousands of homes. Octopus Energy Generation is one of Europe’s largest investors in renewable energy, managing a £4bn portfolio of renewable energy assets throughout the continent.
All of these are made possible by Octopus’s tech arm, Kraken Technologies, which offers a proprietary, in-house platform based on advanced data and machine learning capabilities, Kraken automates much of the energy supply chain to allow outstanding service and efficiency as the world transitions to a decentralized, decarbonized energy system. This technology has been licensed to support over 20 million customer accounts worldwide, through deals with EDF Energy, Good Energy, E.ON energy and Origin Energy.
In December 2021, Octopus Energy Group was valued at approximately $5 billion following a $600 million investment from Generation Investment Management and a $300 million investment from Canada Pensions Plan Investments Board. Both investors back businesses that drive sustainability, promote green energy and tackle climate change. It was the company’s third major investment round since launching to the market.
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ENERGY
GAF Energy | March 14, 2023
GAF Energy, a Standard Industries company for solar roofing, has recently obtained approval from Los Angeles County for its Timberline Solar roof installation in buildings and residential areas. After a multi-month evaluation of the Research Section of the Department of Public Works Building and Safety Division, it got approval.
The review confirmed that Timberline Solar satisfies all the conditions of the County's 2023 Codes for Electrical, Residential, Building, Green Building, and Existing Building, as well as the 2022 Building Energy Efficiency Standards. Launched in 2022, it gains certification of UL 7103 as 'a Building-Integrated Photovoltaic Roof Covering'. In addition, it earns a Class A fire rating under UL 790 and ASTM E108, establishing its standard in fire resistance. The company produces and assembles its products like Timberline Solar at its R&D and manufacturing facility in San Jose, California.
The Timberline Solar Energy Shingle (ES) transforms traditional shingles with innovation to create an attractive look. In addition, it fulfills the third-party safety standards for both the roofing and solar energy sectors. This innovative solar roof received more than 30 awards and honors for design and innovation.
President of GAF Energy, Martin DeBono said, "In designing Timberline Solar, we put safety and durability first. We know that is what homeowners care the most about—and, as a team, we are committed to making the safest and most durable solar roof on the market." He added, "In the last year, Timberline Solar has been approved for tough standards in wind, snow, and fire."
(Source – Cision PR Newswire)
About GAF Energy
Headquartered in San Jose, California, GAF Energy, a renewable energy equipment manufacturing company, has been transforming the solar and roofing industries for large-scale energy generation since 2019. It is a Standard Industries company working with North America-based roofing and waterproofing manufacturer GAF. Through its network of roofer partners, it offers roof-integrated solar options for homeowners. Its product, Timberline Solar, incorporates solar shingles for a more attractive, reliable, and durable solar roof. The products of GAF Energy have received many awards and honors, like the CES Best of Innovation Award, the Fast Company 2022 World Changing Ideas Award, and a NAHB Best of IBS Award.
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ENERGY
businesswire | March 24, 2023
AVANGRID, a leading sustainable energy company and part of the Iberdrola Group, has announced today the signing of a power purchase agreement (PPA) with Meta to procure renewable energy from True North, a 240 MW solar farm under development in Falls County, Texas, and AVANGRID’s first solar facility in the state.
“We are proud to sign this agreement with a partner like Meta who, like us at AVANGRID, has a strong commitment to accelerating the energy transition in the U.S.,” said Pedro Azagra, AVANGRID’s CEO. “With projects like True North, we continue our mission of helping the country meet its ambitious clean energy goals, while also creating quality jobs and strengthening our local economies.”
“We’re excited to expand our partnership with AVANGRID to help bring new solar energy to support our local operations in Texas,” said Urvi Parekh, head of renewable energy at Meta. “True North will support our commitment to 100% renewable energy and represents additional investment and jobs for the region.”
Since 2020, Meta’s global operations have been supported by 100% renewable energy. The True North project will support Meta’s upcoming data center in neighboring Temple, their second data center facility in Texas.
True North, AVANGRID’s first solar farm in Texas, will deliver 240 MW of clean, renewable energy once it reaches commercial operations, which is expected by early 2025. During its construction and operation, True North will create over 200 local jobs and is expected to pay over $40 million in property taxes over 25 years in this state, in which the company already operates more than 1,250 MW of onshore wind facilities.
With more than 8.6 GW of installed renewable capacity, including 1.1 GW of solar projects operating and under construction, AVANGRID is the third largest renewable energy operator in the U.S. In total, the company has a strong pipeline of more than 25 GW under development, encompassing solar, onshore wind, offshore wind, and battery energy storage.
About AVANGRID
AVANGRID, Inc. aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $41 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: networks and renewables. Through its networks business, AVANGRID owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, AVANGRID owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,500 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, AVANGRID ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. AVANGRID is a member of the group of companies controlled by Iberdrola, S.A.
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