Octopus Energy helps Severn Trent to hit net zero pledge
- Octopus Energy Group to help Severn Trent develop renewable generation on unused land
- First time Octopus Energy Group has collaborated with a major utility to develop multiple renewable generation projects
Severn Trent and Octopus Energy Group, the fastest growing energy supplier in the UK, have pledged to develop together renewable energy projects across the Midlands. It is the first time Octopus Energy has collaborated with a major utility to produce renewable power generation.
The two companies have agreed to explore potential opportunities to generate clean, green energy at Severn Trent sites and other third-party locations throughout the region.
The collaboration agreement will support Severn Trent’s triple carbon pledge of reaching net zero carbon emissions using 100 per cent renewable energy and transitioning to a fleet of vehicles that are entirely electric by 2030.
Octopus Energy Group has already worked with a number of high-profile companies to help them produce their own renewable energy and drastically drive down their emissions to meet net zero targets. In the Severn Trent region itself, Octopus Energy Group has been able to supply businesses in Leicester and Warwick with cheaper locally-sourced renewable energy and to provide the energy for iconic venues such as the National Space Centre and the Richard III Visitor Centre.
Liv Garfield, Severn Trent Chief Executive, said: “This is an exciting new partnership which has the potential to revolutionise the way we generate renewable energy across our sites. We’re looking forward to working with Octopus Energy and benefiting from their expertise and experience, marking a major step forward on our journey to net zero.
“Signing this agreement couldn’t come at a better time, as we continue to emerge from the pandemic and help the country to build back greener and cleaner.”
Zoisa North-Bond, CEO of Octopus Energy Generation, the arm of Octopus Energy Group which will manage the partnership, said: “Severn Trent is one of the most important and vital companies in the Midlands, and we’re delighted to be working with them to create even more value for the people of the region in the form of renewable energy.
“As net zero commitments are becoming increasingly important in the fight against climate change, we’re hoping more large scale utilities like Severn Trent see the value in using their land to drive the green energy revolution. By being actively involved in their own energy supply chain, they are starting an exciting journey to becoming carbon neutral that will help make the Midlands cleaner and better for generations to come.”
In May, Severn Trent revealed plans to invest £565m over the next four years to help the environment and improve infrastructure across the Midlands, as well as to create 2,500 new jobs as part of an ambitious Green Recovery programme.
It also announced earlier in the year that it has joined forces with Birmingham 2022 to help deliver the first ever carbon-neutral Commonwealth Games, where it will be responsible for delivering a series of initiatives that help offset the carbon generated by the Commonwealth Games and hopes to leave a positive social and environmental legacy of sustainability in the West Midlands.
NOTES TO EDITORS
Severn Trent press contact
02477 715 640 / firstname.lastname@example.org
Out of hours: 0345 602 0659
Octopus Energy press contact
T: +44 20 453 083 69
About Severn Trent
Severn Trent is the UK’s second largest water company. It serves 4.4m homes and business customers in England and Wales. Its region stretches from mid-Wales to Rutland and from north and mid-Wales south to the Bristol Channel and east to the Humber. The company delivers almost two billion litres of water every day through 49,000km of pipes. A further 94,000km of sewer pipes take waste water away to more than 1,000 sewage treatment works.
To find out more about Severn Trent’s performance in comparison to other water companies go to http://discoverwater.co.uk/
About Octopus Energy Group
Octopus Energy Group was launched in 2016 with a vision of using technology to make the green energy revolution affordable whilst transforming customer experiences. It is a certified B-corp, and its domestic energy arm already serves 2.4 million customers with cheaper greener power, through Octopus Energy, M&S Energy, Affect Energy, Ebico, London Power and Co-op Energy.
Octopus Energy for Business manages over 25,000 customers with proprietary energy offerings. Octopus Electric Vehicles is helping make clean transport cheaper and easier, and Octopus Energy Services is bringing smart products to thousands of homes. Octopus Energy Generation is Europe’s largest investor in solar energy, managing a £3.4bn portfolio of renewable energy assets throughout the continent.
All of these are made possible by OEG's tech arm, Kraken Technologies, which offers a proprietary, in-house platform based on advanced data and machine learning capabilities, Kraken automates much of the energy supply chain to allow outstanding service and efficiency as the world transitions to a decentralised, decarbonised energy system. This technology has been licensed to support over 17 million accounts worldwide, through deals with Good Energy, E.ON energy and Origin Energy.
In December 2020, Octopus Energy Group was valued at over $2 billion after closing its second investment round of the year led by international energy companies Tokyo Gas and Origin Energy. With operations in the US, Japan, Germany, New Zealand and Australia, Octopus Energy Group's mission to drive the affordable green revolution is going global.
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