CPP Investments Funnels More Money into Octopus Energy Group
Posted on 07/26/2022
Octopus Energy Group launched in 2016. 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 Energy Generation is one of Europe’s largest investors in renewable energy, managing a £3.4 billion portfolio of renewable energy assets throughout Europe.
Octopus Energy Group closes its recent funding round, securing US$ 325 million from its existing shareholders on terms agreed during the fundraising round in December 2021. The company plans to use the money to further improve its energy technology platform, Kraken Technologies, and invest in products and solutions that can help solve the energy crisis and drive renewables at scale.
Furthering the strategic partnership between both businesses, and in addition to supporting Octopus’ U.K. tech and global businesses, Canada Pension Plan Investment Board (CPP Investments) has committed an additional US$ 225 million to Octopus’ efforts to accelerate and enhance the integration of renewables in the power system including through leveraging Octopus’ Kraken Flex platform.