The company ‘Octopus Renewables’ has been successful in strengthening the electricity distribution profile of the company for completely acquiring the company known as ‘Eclipse Power’ for an amount that is not disclosed.
The deal between both the companies, that had been completed with the help of the funds, which was managed by the company Octopus, along with the further involvement of the company in the electricity distribution industry, and Octopus is also working with Eclipse Power since 2018. The Octopus Renewables is also going to allow the Eclipse Power for the purpose of continuing the expansion of the team, along with investment in the technology, pipeline and systems of the company, along with an ambition of making the company one of the leading IDNOs of United Kingdom.
Eclipse Power has been successful in securing a portfolio of over 10,000 connections across the battery storage, commercial, residential, industrial and electric vehicle charging customers, and the company is mainly focusing on the transport, heath and industry in the United Kingdom, and Eclipse has also been expected for playing a very important role in the process of facilitating the energy transition of United Kingdom.
The Octopus Renewables has been the largest investor of the Utility scale solar energy across the continent of Europe, along with a leading investor in the biomass and onshore wind energy, along with the management of a global portfolio, which has been valued at over 3.5 billion pounds, and Nest, an institutional investor has also partnered with the company ‘Octopus Renewables’ in the Month of March 2021.
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