13 MAR 2023


Octopus Energy has announced plans to invest €1bn in the French green energy market over the next two years.

The UK’s third largest energy retailer is also launching a new European tech hub in Paris.

The company is targeting one million customers by 2026 in France.

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.

Announcing the plans at the 36th Franco-British Summit, chaired by Prime Minister Rishi Sunak and French President Emmanuel Macron in Paris, Octopus Energy CEO and founder, Greg Jackson, said: “Octopus operates across 10 European countries, and 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.”

Octopus Energy first entered the French market in January 2022 with its acquisition of French energy supplier Plüm énergie. The company is now targeting one million customers by 2026 in France.

Vincent Maillard, CEO of Octopus Energy France, said: “We are very proud to see Octopus Energy's role in France's energy transition recognised 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.”


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