Octopus Energy has acquired agrivoltaic developer OX2 France under its Sky fund, the largest deal in France to date, as the company targets €1bn of investment in the country.

Agrivoltaics combine solar energy generation with agriculture to maximise land use and boost biodiversity.

The deal marks Octopus’ latest acquisition in the French market, with a pipeline of 21 projects in the works across Nouvelle-Aquitaine, Centre-Val de Loire, and Auvergne-Rhône-Alpes. If all projects in the current pipeline get built, the investment targets to develop close to 500MW of capacity in France by 2031.

The deal comes close after its acquisition of Sungen 10, a portfolio of more than one hundred rooftop solar projects on top of French farms.

Zoisa North-Bond, CEO of Octopus Energy Generation, said: "France is a shining market for us as we continue to scale renewable energy across Europe. OX2 France has been leading the way in agrivoltaics, proving that solar power and agriculture can thrive together for a cleaner future. By joining forces, we are one step closer to creating more sustainable energy solutions for millions of people in France and beyond.”

The deal marks the latest in Octopus Energy Generation’s work with OX2, including acquiring wind farm projects from OX2 in recent years in Sweden.

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