Skip to main content

Octopus Energy, RES to invest £3 billion in green hydrogen across U.K. by 2030

October 14, 2021

Octopus Energy and RES have entered into a partnership to invest £3bn in building green hydrogen plants across the UK by 2030.

The partnership aims to deliver a “home-grown, reliable and cost-competitive” source of clean hydrogen that is insulated from present and future gas price volatility, while helping decarbonise industrial businesses.

Octopus Renewables and RES will collectively develop, own and operate green hydrogen plants which use renewable energy.

The aim of the partnership is to make the most of renewable electricity when it is generated in abundance on sunny and windy days by storing them as hydrogen molecules.

Octopus Renewables manages more than 300 solar, onshore wind and biomass projects worth over £3.4bn. In July, the company joined the Octopus Energy Group, bringing the supply and the generation side of energy together under one roof.

RES has delivered 22GW of generation capacity across the globe.

More: Octopus, RES eye £3bn UK green hydrogen rollout

Join our newsletter

Keep up to date with all the latest from IEEFA