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Octopus Energy strikes major China joint venture during PM visit
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Business Matters
Octopus Energy Group has unveiled a major joint venture with PCG Power to trade renewable electricity in China, marking a significant expansion into the world’s largest clean energy market.
The new venture, called Bitong Energy, will combine PCG Power’s position as one of China’s fastest-growing investors and solutions providers in the commercial and industrial renewable energy sector with Octopus’ proprietary software and expertise in green energy trading and optimisation.
Bitong Energy will initially focus on China’s rapidly expanding spot power markets, where electricity is bought and sold in real time to improve grid efficiency and reduce costs.
“Together, we aim to deliver smarter, more cost-effective and reliable energy services for Chinese commercial and industrial customers, while supporting China’s green transformation.”The joint venture builds on Octopus Energy Group’s broader strategy of exporting British clean energy technology overseas.
The China partnership represents one of Octopus Energy’s most ambitious international moves to date, positioning the company at the heart of global renewable energy trading as spot markets expand worldwide.