Octopus Energy and German Energiequelle launch joint venture to slash energy costs for businesses

• Joint venture OQTO-X to cut energy costs for businesses in Germany, Austria, Poland and the Czech Republic
• Octopus’s Sky fund commits €200m (£173m) to fast-track fossil-free production
• Comes as Octopus powers 1m homes in Germany, marking a major milestone

London/Munich, 9 October 2025 – Octopus Energy’s generation arm and leading German renewables developer Energiequelle have teamed up to launch OQTO-X – a new joint venture aimed at cutting energy costs and emissions for businesses across Europe.

OQTO-X will support commercial and industrial businesses (C&I) across Germany, Austria, Poland, and the Czech Republic by planning and installing solar panels and large-scale batteries, overseeing financing, and helping them efficiently manage the generated energy.

The business aims to invest €200 million (£173m) by 2030 through Octopus’s landmark‘ Sky fund (ORI SCsp), helping to slash industrial carbon emissions and energy costs.

Germany, home to energy-intensive sectors such as chemicals, metals, and steel, ranks among Europe’s top industrial greenhouse gas emitters – with industry accounting for roughly 24% of the country’s total emissions in 2024*.

With over 1.7 GW of clean energy projects across the globe, Energiequelle is one of Germany’s driving forces in the renewables sector.

This marks Octopus Energy’s 10th investment in German renewables in three years, and a major step toward its target of channelling €1 billion into the country’s Energiewende. It now manages over 3.3 GW of solar and wind projects across Germany.

OQTO-X is Octopus’s latest investment in the European C&I sector, building on successful energy deals in the UK, Ireland, Italy, Portugal and Spain.

Germany is Octopus’s second-biggest market after the UK. The company recently reached a major milestone, powering 1 million German homes – the first country outside the UK where Octopus has achieved this feat.

Last month, the global energy and tech business announced it is launching Octopus Electric Vehicles, the UK’s largest EV-only leasing business, in Germany early next year.

Zoisa North-Bond, CEO von Octopus Energy Generation, said: “We're working relentlessly to drive the global energy revolution and make energy better for people and businesses.

“We're hugely excited to partner with Energiequelle to bring even more clean energy to Germany, Austria, Poland and the Czech Republic – home to some of Europe’s largest industrial centres – and help decarbonise industry in the region.”

Michael Raschemann, Managing Director and Founder at Energiequelle, said: “We see clear benefits in directly supplying companies with locally generated green electricity, making it a forward-looking business area for our company. Our goal is to provide energy from our plants in a way that’s demand-oriented, reliable, and cost-effective."

ENDS

Sources:

*Competence Centre Climate Protection in Energy-Intensive Industries, 2025

Press Contacts

Octopus Energy

Christina Hofmann

press@octoenergy.com

+44 (0)20 4530 8369

About Octopus Energy Generation

Octopus Energy Generation is driving the renewable energy agenda and building green power for the future. It is reshaping the market by leading the transition to a cleaner, greener future through renewable projects connected more deeply to customers and businesses. As one of Europe’s largest specialist renewables investors, it manages 4.9 GW of green energy projects like wind and solar farms in 23 countries, worth £7bn ($9bn/ €8.5bn). These generate enough green power for 2.4 million homes every year - the equivalent of taking over 1 million petrol cars off the road.

Octopus comes up with innovative tech-enabled products to change ingrained thinking about energy, positively influence the net zero economy, deliver cheaper energy for customers and make it easier for everyone to be a part in the energy transition. This includes innovations like ‘The Collective’ – the UK’s first FCA-regulated investment platform launched by an energy supplier. It allows people to invest directly in renewable energy projects', like wind turbines or solar farms, from £25. The first two projects’ available shares sold out within 6 days, showing a strong appetite for a new way to take part in the clean energy transition.

For more information, check out our website.

About Octopus Energy Group

Octopus Energy is a global clean energy and technology business, driving the affordable, green energy system of the future. Under its own retail brand, Octopus delivers world-class customer service and cutting-edge energy products to almost 10 million households globally.

The company is driving the electrification of heat and transport through smart tariffs and innovative clean tech, with operations spanning 27 countries and the entire energy value chain. It operates a £7 billion renewables portfolio as well as thriving EV leasing, heat pump, and solar businesses. Backed by pension funds, investors and energy giants, Octopus Energy Group businesses deliver cheaper, greener energy and cutting-edge tech to countries and customers worldwide.

For more information, check out our website.

About Energiequelle

Energiequelle GmbH is engaged in the planning, implementation, and operation of wind energy, solar PV, and biogas plants, as well as energy storage systems and complete grid connections. Additionally, the company collaborates closely with municipalities and businesses to develop customised solutions for the direct supply of renewable energy. To date, Energiequelle has successfully realised over 850 wind energy projects and manages more than 800 plants in both technical and commercial operations. Since its founding in 1997, Energiequelle has been owner-managed and currently employs around 600 people across 28 locations in Germany, Finland, France, Poland, Greece, and South Africa.

More information: www.energiequelle.de.