Octopus Energy has launched a new joint venture aimed at helping develop community energy projects in the UK. The supplier, borne out of prolific solar investor Octopus Investments, today announced a major strategic partnership with Midcounties Co-operative which will see it predominantly acquire the latter’s 300,000 energy retail customers. However an integral part of the deal includes the launch of a joint venture between the two parties aimed specifically at furthering community energy projects in the UK. It will invest in community energy providers, give support to community groups interested in community energy projects and increase the amount of energy procured directly from community energy initiatives. Community energy projects, particularly solar developments, have been stymied in recent years, hit by both the retraction of the feed-in tariff and the highly contentious decision to remove tax credits for investments in community energy projects.
Solar Power Portal 29th Aug 2019 read more »