Octopus, the largest commercial solar player in Europe, is expanding into the Australian market with the opening of an office in Melbourne. The move builds on Octopus’ track record in Europe, where it has attracted significant retail and institutional funds since the company entered the renewables market in 2010. Since then, Octopus has accelerated the growth of local renewables markets by providing flexible funding opportunities to support the development, construction and long-term management of assets.

Octopus sees an exciting opportunity to deploy its own funds and also attract local investment into the Australian renewables market, with the intention to build a portfolio of scale over time, as part of the plan to expand its energy business beyond Europe.

Matt Setchell, Head of Octopus’ Energy Investments team, commented: “Australia has fantastic solar and wind resources and the potential to be at the leading edge of renewables. The team now on the ground in Australia has been integral in growing our business into Europe’s largest solar investment management business over the last five years. These two factors combined present an exciting opportunity for us to become a significant player in Australia’s energy transition.”