Octopus Energy and RES have joined forces, pledging to invest £3bn to build new green hydrogen plants across the UK by 2030.
Announced on 14 October, the partnership will see Octopus Renewables and RES use their expertise and capital to develop, own and operate new green hydrogen plants, delivering a reliant, cost competitive source of clean hydrogen that is insulated from present and future gas price volatility. The partners will seek to maximise the use of green electrons when they are generated on sunny and windy days by storing them as green hydrogen , helping the UK to become more energy independent.
Co-Head of Octopus Renewables, 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. We invite industrial businesses that are currently using hydrogen to contact us and benefit from the early mover advantage.”
