Overview
- Greg Jackson warns the UK could be left behind without collaboration with China on renewables, calling access to its technology a golden opportunity to cut bills and boost the economy.
- Octopus has launched a joint venture with PCG Power to trade and optimise green power in China, announced during a UK business delegation visit.
- The company also has a cooperation deal with Ming Yang Smart Energy, and the turbine maker has ambitions to build manufacturing capacity in the UK.
- Octopus aims to deploy Chinese turbine technology in UK projects within the next couple of years, citing costs about 30% lower than European alternatives and potential for thousands of UK jobs.
- Jackson says national security will be the top priority under appropriate frameworks, as Octopus—now the UK’s largest supplier with 7.6 million customers—prepares a Kraken spin-out backed by a £25m government investment.