Earlier this week, the UK, US and EU announced they will phase out oil and gas imports from Russia, as a response to Putin’s invasion of Ukraine. The UK promised to completely phase out Russian energy by the end of 2022. Meanwhile, the EU, which relies on Russia for 40 percent of its energy supply, has laid out a plan to reduce the bloc’s dependency on Russian oil and gas by two thirds this year.
As EU leaders scramble to figure out how to become more energy independent, Octopus Energy Gorup, a British firm has announced four wind farm deals in the UK, Sweden, France and Finland.
Through these deals, the British firm will add up to 690 MW of wind power, boosting the business’ wind capacity by up to 90 percent over the next 10 years.
The investments, all signed in the last three months, will create enough energy to power nearly half a million homes a year.
Speaking to Express.co.uk, Zoisa North-Bond, CEO of Octopus Energy Generation, said: “It has become increasingly clear that we need to be more energy independent – so let’s build more wind, and not more wells.
“There’s huge potential for wind energy in the UK, and these new deals are just the beginning for us.
“Over the next few years, we will invest billions in renewables up and down the country, making energy cheaper and greener for everyone.”
In the UK, Octopus has invested in a joint venture to develop nine onshore wind farms with Wind 2 Limited, a specialist UK wind farm developer.
The new wind farms will be developed across Scotland and Wales over the next five to 10 years, with a potential combined capacity of approximately 570 MW.
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“The energy crisis has shown how exposed Europe is to global fossil fuel prices.
“These new wind farms will help Europe reduce its reliance on gas and become energy independent.
According to their statement, Octopus is now also managing a French onshore wind farm with a capacity of 14.1 MW.
In the final investment, Octopus Renewables has acquired two onshore wind farms in Finland.
The Saunamaa and Suolakangas wind farms have a combined capacity of 71.4 MW and will generate enough energy to power over 45,000 homes.