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Released June 20, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--If you haven't heard the name Octopus Energy (London, England) before, you're probably about to begin hearing it more. The company now manages 2 gigawatts (GW) of solar farms throughout the world and 1.7 GW of other renewable energy projects, including onshore and offshore wind. And now, Octopus has entered the U.S. arena, with plans to continue sustained investment in the country through 2030.
Earlier this week, Octopus announced that it had purchased two solar farms in Pennsylvania and Ohio from renewable energy developer Vesper Energy (Irving, Texas). The facilities have a combined generating capacity of 100 megawatts (MW) and include the 80-MW Nestlewood Solar Farm, spanning 610 acres in Clermont and Brown counties in Ohio, and the 20-MW Gaucho Solar Farm on 68 acres in Beaver and Allegheny counties in Pennsylvania. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here for the related plant profiles.
Both solar farms began operating last year. The Nestlewood facility has a power purchase agreement in place with an unnamed e-commerce company, while the Gaucho Solar Farm provides power to the University of Pittsburgh. According to an Octopus press release, the two solar farms' output is enough to meet the annual electricity needs of 20,000 area households.
The purchase of the facilities marks the first move of Octopus' strategy to enter the U.S. market. The company has plans to invest $2 billion in the U.S. clean energy sector by 2030.
Both Vesper and Octopus are behind other active power projects in the U.S., Oceania and Europe. While both companies are pursuing future renewable energy developments, Octopus also is at work on several green hydrogen projects. Among the hydrogen projects set to kick off soon is Octopus' development of a site in Lanarkshire, Scotland, which is expected to break ground this summer. The site will use a 15-MW electrolyzer connected to an onshore windfarm to produce 6,000 kilograms per day of green hydrogen. The project is expected to be completed in the second half of next year. Subscribers to Industrial Info's Chemical Processing Project Database can click here for more details on the project.
Octopus also has multiple planned investments in Australia, primarily in solar and energy-storage facilities. Among the company's projects planned to kick off this year down under is the Blind Creek solar and storage facility in New South Wales, which is planned to break ground this fall. The site covers more than 1,100 hectares and will include approximately 1 million solar panels mounted on a single-axis tracking system to provide 350 MW of emissions-free generation. As construction of the solar-generation portion of the project winds down in late 2026, Octopus plans to begin on a battery storage energy system (BESS) capable of providing 300 MW of power at times when the sun isn't shining. Subscribers can learn more by viewing the reports on the solar and BESS portions of the project.
Industrial Info also is tracking more than $3.8 billion in U.S.-based projects from Vesper Energy. Most of these are for solar power facilities, some with accompanying BESS units and many bound for leading solar states Texas and California. Among the company's largest projects planned for the near future is the Mystic Springs solar and BESS facility planned for Kaufman County, Texas. Construction is planned to begin next year, putting the facility on track to begin providing power by the end of 2026. Both the solar and BESS portions will feature generating capacities of 258 MW.
Another Vesper solar and BESS project is planned to follow about the same timeline near Visalia, California. The Mineral King solar and BESS project will feature 200 MW of both solar generation and BESS capacity and also is expected to begin generating power in 2026. Subscribers can learn more by viewing the reports on the Mystic Springs and Mineral King projects.
Subscribers to Industrial Info's GMI Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Earlier this week, Octopus announced that it had purchased two solar farms in Pennsylvania and Ohio from renewable energy developer Vesper Energy (Irving, Texas). The facilities have a combined generating capacity of 100 megawatts (MW) and include the 80-MW Nestlewood Solar Farm, spanning 610 acres in Clermont and Brown counties in Ohio, and the 20-MW Gaucho Solar Farm on 68 acres in Beaver and Allegheny counties in Pennsylvania. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here for the related plant profiles.
Both solar farms began operating last year. The Nestlewood facility has a power purchase agreement in place with an unnamed e-commerce company, while the Gaucho Solar Farm provides power to the University of Pittsburgh. According to an Octopus press release, the two solar farms' output is enough to meet the annual electricity needs of 20,000 area households.
The purchase of the facilities marks the first move of Octopus' strategy to enter the U.S. market. The company has plans to invest $2 billion in the U.S. clean energy sector by 2030.
Both Vesper and Octopus are behind other active power projects in the U.S., Oceania and Europe. While both companies are pursuing future renewable energy developments, Octopus also is at work on several green hydrogen projects. Among the hydrogen projects set to kick off soon is Octopus' development of a site in Lanarkshire, Scotland, which is expected to break ground this summer. The site will use a 15-MW electrolyzer connected to an onshore windfarm to produce 6,000 kilograms per day of green hydrogen. The project is expected to be completed in the second half of next year. Subscribers to Industrial Info's Chemical Processing Project Database can click here for more details on the project.
Octopus also has multiple planned investments in Australia, primarily in solar and energy-storage facilities. Among the company's projects planned to kick off this year down under is the Blind Creek solar and storage facility in New South Wales, which is planned to break ground this fall. The site covers more than 1,100 hectares and will include approximately 1 million solar panels mounted on a single-axis tracking system to provide 350 MW of emissions-free generation. As construction of the solar-generation portion of the project winds down in late 2026, Octopus plans to begin on a battery storage energy system (BESS) capable of providing 300 MW of power at times when the sun isn't shining. Subscribers can learn more by viewing the reports on the solar and BESS portions of the project.
Industrial Info also is tracking more than $3.8 billion in U.S.-based projects from Vesper Energy. Most of these are for solar power facilities, some with accompanying BESS units and many bound for leading solar states Texas and California. Among the company's largest projects planned for the near future is the Mystic Springs solar and BESS facility planned for Kaufman County, Texas. Construction is planned to begin next year, putting the facility on track to begin providing power by the end of 2026. Both the solar and BESS portions will feature generating capacities of 258 MW.
Another Vesper solar and BESS project is planned to follow about the same timeline near Visalia, California. The Mineral King solar and BESS project will feature 200 MW of both solar generation and BESS capacity and also is expected to begin generating power in 2026. Subscribers can learn more by viewing the reports on the Mystic Springs and Mineral King projects.
Subscribers to Industrial Info's GMI Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
