UK-based energy retailer Octopus Energy plans to invest 1 billion euros in France's clean energy sector over the next two years. The company announced the investment at the 36th Franco-British summit in Paris, hosted by British Prime Minister Rishi Sunak and French President Emmanuel Macron. The investment will help generate enough clean energy to power 300,000 homes.

Octopus Energy operates in ten countries across Europe and today we are delighted to announce a significant increase in our collaboration with France, said Greg Jackson, founder and CEO of Octopus Energy. We plan to invest an additional 1 billion euros in the French generation, but we also intend to make Paris our EU technology hub. This is evidence of a shared commitment to investing in clean energy systems and pioneering digitalisation, which will reduce costs alongside carbon emissions. In addition to the investment, Octopus Energy plans to establish a European tech hub in Paris through its subsidiary Kraken.

The technology center is expected to create green energy jobs in the region while supporting millions of customers across the continent. "We are very proud to see Octopus Energy's role in France's energy transition recognized at the highest levels of the French government," said Vincent Maillard, CEO of Octopus Energy France. In doing so, the group has combined retail energy expertise, significant investment in renewable energy generation and cutting-edge technology to unlock innovative tariffs and provide French households with an exceptional customer experience.

Octopus Energy will enter the French energy market in 2022 through the acquisition of energy supplier Plüm énergie. The company has since set a goal of having 1 million customers in France by 2026. Last month, Octopus Energy bought an additional stake in the 270 MW Lincs wind farm project offshore England's east coast.Editor/XingWentao