Octopus strikes deal to supply green energy to millions of Indian households after climate deal was struck
- Octopus Energy signs agreement with Indian infrastructure giant Sterlite Power
- Follows last month’s climate summit agreement to cut carbon emissions
- The 2 companies also plan to build new renewable energy and storage in India
Renewable energy giant Octopus, which is racing to overtake British Gas owner Centrica as Britain’s biggest energy supplier, has inked a landmark deal in India.
Octopus Energy, led by CEO Greg Jackson, has signed an agreement with Indian infrastructure giant Sterlite Power, enabling Octopus to supply green energy to millions of Indian households.
Octopus will supply green energy to millions of Indian households
The plans are the first UK-India energy alliance since the two countries signed an agreement to cut carbon emissions at the climate summit last month.
Octopus and Sterlite also plan to build new renewable energy and storage in India, which is the world’s third-largest carbon-emitting country.
Jackson said: ‘Through this partnership we will be able to offer greener, cheaper options to consumers in both the UK and India, and help India with its goals for decarbonisation.’
Octopus Energy, which was founded in 2016, is worth £3.8billion, versus Centrica’s £3.9billion market value.