Friday 15 October 2021

Octopus and RES to invest £3bn in green hydrogen by 2030

Energy firms Octopus Energy and RES have partnered to invest £3 billion in building green hydrogen plants across the UK by 2030.

The hydrogen at the plants will be produced using renewable energy from Octopus Renewables, which manages a portfolio of 300 projects worth more than £3.4 billion.

It will provide the hydrogen to industrial businesses to help them decarbonise.

Octopus Renewables Co-Head, Alex Brierley said: “The supply of green hydrogen will be critical to the success of many industries in meeting the UK’s net zero targets and with this partnership we are providing a solution for those businesses to help deliver on the government’s ambitions.”

Rachel Ruffle, CEO at RES, added: “We know that renewable based electrification using wind and solar is the fastest way to decarbonise.

“When coupled with the production of green hydrogen, it becomes the natural choice for industry and our hard to abate sectors. Our partnership will enable industrial users to make the switch to reliable and cost-effective green hydrogen.”