EU proposal for ban on Russian gas blocked by Orban says expert
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Octopus Energy, one of Europe’s largest investors in renewable energy, has announced its first renewable energy deal in Germany, with a major wind farm investment. The UK based company will build ‘Gaishecke’, a 35 MW onshore wind farm in Hessen, near Frankfurt. Construction on the project is slated to begin within the next few weeks and it is set to become operational by the end of 2023.
According to Octopus, once completed, the 10 wind turbines made by Vestas will generate almost 100,000 MWh, enough green energy to power nearly 40,000 households a year.
This amount of electricity from renewable sources will offset nearly 60,000 tonnes of CO2 a year, which is equivalent to taking 30,000 petrol cars off the road.
This deal could be a major boost to Germany’s efforts to end its reliance on Russian gas, which accounted for 55 percent of its imports in 2021.
Over the past few decades, Germany has gradually increased the amount of natural gas it imports from Russia, which the Kremlin is now using as leverage in its war in Ukraine.
Zoisa North-Bond, CEO of Octopus Energy Generation told Express.co.uk: “Making our first investment in renewable generation in Germany is a huge step for us on our European expansion.
“Germany is already one of the global trailblazers in wind energy – and wind power undoubtedly will play a significant role in helping it become more energy independent.
“We’re targeting 1,200 MW of renewable generation projects in Germany by 2030, helping the country wean itself off fossil fuels.
“By rapidly scaling green power, we’re accelerating its transition to a cheaper, greener energy system.
“We’ve already got over £4billion of renewable assets across Europe – and over the next decade we’re looking to more than triple our investments in renewable technologies across the continent.”
Last month, Chancellor Olaf Scholz was forced to bow to Vladimir Putin’s demand to pay for gas exports in rubles.
Aside from this wind farm, Octopus is also looking to rapidly expand its generation portfolio in Germany with more sites.
By 2030, the company is planning to operate 1,200 MW of wind and solar farms across the country.
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Ms North-Bond added: “We’re absolutely thrilled to expand into renewable generation in Germany as we rapidly scale green power across the continent.
“We’re huge fans of Germany’s wind market and can’t wait to build this wind farm – which will be the first of many – to bring even more cheap green energy to people and help secure energy independence.”
Andrew Mack, CEO of Octopus Energy Germany, said: “We’ve been blown away by the response to Octopus in the German retail energy market.
“This first onshore wind deal is a really significant milestone and it’s just the beginning, bringing green generation even closer to the consumer.”
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