Octopus has unveiled a new investment into Italy‘s rooftop solar sector, partnering with local solar developer Coralsun to build 150 MW of new solar projects.
Octopus Energy plans to invest €1 billion (£830m) earmarked for renewable energy projects by 2030.
The collaboration will focus on installing solar panels on the rooftops of hundreds of businesses, particularly targeting energy-intensive commercial and industrial SMEs, including logistics centres and manufacturers.
These installations, set to be completed over the next five years, will initially focus on the north of Italy, harnessing the country’s abundant sunshine to generate clean energy.
One of the key incentives for businesses is that the solar panels will be installed at no upfront cost, and companies can lock in fixed energy prices, safeguarding them against the volatility of energy markets.
Alex Brierley, Co-Head of Octopus Energy Generation, said: “Businesses in sun-soaked Italy are sitting on a golden opportunity to harness what’s one of the cheapest energy resources – solar power.
“With electricity costs skyrocketing for businesses in Italy over the past few years, tapping into abundant solar resources will help cut costs for companies. This deal is a step towards us accelerating Italy’s green energy transition.”
