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
Braya Renewable Fuels LP | March 13, 2023
Braya Renewable Fuels LP, an oil and gas company, has recently issued an exclusive letter of support to ABO Wind company for the joint development of green hydrogen production. It would promote ABO Wind's project proposal in 'Crown Land Call for Bids for Wind Energy Projects,' an initiative of the Government of Newfoundland and Labrador.
In November 2022, it issued a request for proposals of about 35,000 metric tons of green hydrogen production annually, which is needed for its advanced biofuel refinery. It recognized its requirement for large quantity hydrogen and unique access to deep water logistic assets. It has also invited respondents to submit proposals for large-scale production of green hydrogen and ammonia that would satisfy the needs of the global marketplace.
ABO Wind proposed an integrated project providing green hydrogen to fulfill Braya's requirement and green ammonia for export worldwide, and Braya issued a non-binding letter of support to ABO Wind's project. It believes in the success of the project in the competitive process.
CEO of Braya Renewable Fuels, Frank Almaraz said, "Of the many strong proposals we received from around the world, we have selected ABO Wind for its demonstrated ability to manage large scale infrastructure developments, its significant experience in developing renewable energy projects, and our shared vision of producing green hydrogen and green ammonia to serve global markets." He added, "We are confident that together with ABO Wind, we can build on the tremendous momentum at our Come By Chance refinery."
(Source – Cision PR Newswire)
About Braya Renewable Fuels LP
Headquartered in Come By Chance, Newfoundland and Labrador, Canada, Braya Renewable Fuels LP, a refinery, aspires to become one of the largest renewable diesel and sustainable aviation fuel production facilities in the world. Its refinery is in the conversion project process. It employs employees from different countries, backgrounds and cultures for global business. Previously, it was known as North Atlantic Refinery (NARL). It was named 'Braya' after the two endangered artic-alpine flowering plant species, Long's Braya and Fernald's Braya, mostly found in the Great Northern Peninsula of Newfoundland. These unique species adapt to the extreme climate conditions, and natural processes need to survive in the coastal limestone barrens of the Strait of Belle Isle.
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ENERGY
prnewswire | April 17, 2023
Canadian Solar Inc. announced its majority-owned subsidiary CSI Solar Co., Ltd.'s 2024 capacity expansion plans. Namely, by the end of Q1 2024, CSI Solar intends to add 30 GW of ingot, 15 GW of wafer, 10 GW of cell and 25 GW of module capacity. Expected period-end capacities are updated as follows.
*Nameplate annualized capacities at said point in time. Capacity expansion plans are subject to change without notice based on market conditions and capital allocation plans.
Dr. Shawn Qu, Chairman and CEO of Canadian Solar, commented, "All our new capacity additions for 2023 and 2024 will be in the latest N-type technology, enabling us to better meet strong market demand and accelerate growth. In addition, by increasing the level of vertical integration, we continue to improve our control over technology, raw material sources and costs. These business plans will hep us further strengthen our long-term leadership position not just across our end markets but also throughout our supply chain positioning."
About Canadian Solar Inc
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 22 years, Canadian Solar has successfully delivered around 88 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built and connected around 8.8 GWp in over 20 countries across the world. Currently, the Company has approximately 574 MWp of projects in operation, 6.7 GWp of projects under construction or in backlog (late-stage), and an additional 18 GWp of projects in advanced and early-stage pipeline. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006.
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