Octopus accelerates Asian renewables uptake with South Korean investment
London, April 14, 2025, (Oilandgaspress) –––– Octopus Energy’s generation arm accelerates its Asian renewables plans with a solar investment in South Korea, set to help ramp up clean power in the country.
Octopus has backed a highly experienced and expert local team – Skygreen Energy – to develop up to 20 small- to medium-sized solar farms in the next two years.
The new solar farms will generate 140 MW of clean energy – enough power for around 45,000 homes a year.
Skygreen is planning to scale up to 500 MW of solar, with ambitions to potentially branch out into other green technologies like energy storage and onshore wind farms in the future.
With an initial focus on the mid-western regions of South Korea, Skygreen aims to sell the clean power generated to technology, manufacturing and heavy industry companies, helping businesses slash their carbon footprint.
South Korea generates around 30% of its electricity from carbon-intensive coal. However, the country has ambitious targets, planning to triple the share of renewables in energy from 10% to 33% by 2038* – presenting a massive opportunity for solar energy.
The move follows Octopus’ investment in Deep Wind Offshore, an offshore wind developer with multiple projects in the pipeline in South Korea, and its investment in Japanese solar farm developer Yotsuya Energy.
Information Source: Read More
Oil and gas press covers, Energy Monitor, Climate, Gas,Renewable, Oil and Gas, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas,
