Octopus Energy Investments is rebranding as Octopus Renewables, the investment group announced on Monday (8 July).
The company, which entered the renewables market in 2010, has become the largest investor/owner of solar power assets in Europe and now manages more than £3 billion of assets globally.
With investor interest in renewables growing, as investors become more concerned about the heating planet, Octopus decided that the time was right to reflect this in its branding.
“This rebrand is clearly an exciting moment for us and comes as we reach a critical stage in the fight against climate change,” Alex Brierley, co-head of Octopus Renewables said in a statement.
“With global temperatures on the rise, the risks of drought, floods, extreme heat and poverty for hundreds of millions of people are increasingly clear.
“Our mission is to accelerate the investment needed to drive the decarbonisation of our energy infrastructure, safeguarding the future of our planet for ourselves and future generations.”
The company has continued its expansion in recent months, with new investments in Australia, Finland, France and Italy. It said that recent investments had enabled it to build “a diverse portfolio of clean energy assets with a capacity of 2.3GW”. Collectively, this represents enough electricity to power homes in a city the size of Manchester.
Octopus recently commissioned a study which found that investors still had difficulty in understanding some of the specific issues relating to the renewables market, which could make them hesitant to deploy capital. These issues include energy price uncertainty, liquidity issues and operating / execution costs.