Octopus Energy Generation Acquires Exagen Group
London, September 24, 2024, (Oilandgaspress) ––– Exagen Group, founded by CEO Jeremy Littman, has finalised a deal for a 100% equity buyout by Octopus Energy Generation, one of Europe’s largest specialist renewables investors. This acquisition, on behalf of the Octopus Energy Development Partnership (OEDP) fund, managed by Octopus, is set to propel Exagen’s ambitious growth plans as it continues to contribute to the UK’s green energy transition.
The buyout follows Octopus’ initial investment in August 2022 for a 24% stake in the business. As Exagen’s project pipeline progresses toward construction, the new ownership will support its long-term growth. Octopus Energy Generation currently manages nearly £7 billion of renewable energy projects across the globe.
In the past year, Exagen has secured planning consent for 520MW of standalone battery storage projects at sites in Leicestershire and Gloucestershire. Additionally, the company has 260MW of solar and 268MW of battery storage either in planning or poised to enter planning in the coming year. Exagen is committed to integrating solar and energy storage infrastructure with natural habitats to enhance biodiversity, improve soil health, and provide community amenities by the end of each project’s lifecycle.
Highlights:
Exagen gains backing from new ownership to strengthen its position in the UK energy sector.
The company’s development pipeline includes over 2.4GW of solar and energy storage projects across England.
This follows Octopus’s initial investment for a 24% stake in August 2022.
Information Source: Read Press Release
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