Octopus partners with Chinese firm to slash renewable energy costs

Octopus Energy and Ming Yang Smart Energy, a world-leading wind turbine manufacturer, have signed a new partnership to deliver cheap, clean wind energy and allegedly bring down bills for British households for good.

Building on the first Joint Economic and Trade Committee (JETCO) in seven years, the partnership aims to reduce the cost of wind energy in the UK dramatically, making renewable power even more affordable.
As part of the agreement,
Octopus will explore the implementation of software to create the highest levels of data protection and cybersecurity in combination with Ming Yang’s offshore and onshore wind turbines.

Zoisa North-Bond, CEO of Octopus Energy Generation, said: “The UK is already a leader in wind, and this partnership with Ming Yang is a core pathway to deliver some of the cheapest and most secure energy the UK has seen.

“By combining Octopus’s expertise in
smart technology and software with outstanding wind turbines, we can optimise every kilowatt and cut energy costs for millions of bill payers.”

In addition, Octopus Energy Generation, the renewables arm of Octopus Energy, plans to deploy Ming Yang’s wind turbines to unleash the development of up to 6GW of local energy capacity identified through Octopus’s match-making platform ‘Winder’.

Designed to speed up the development of onshore wind farms, ‘Winder’ connects wind-enthusiastic communities
with landowners to locate suitable sites for turbines, delivering energy where it’s needed most while easing stress on the grid.

Since its launch in 2022, Winder has found enough potential locations to power nearly five million homes with clean, homegrown energy.

Initially focused on onshore wind, the partnership will also explore expanding into other energy solutions, including solar power and battery storage systems.

Octopus is already one of Europe’s largest investors in
wind, managing nearly 5GW of renewable energy globally, including 1.5 GW in onshore and offshore wind projects.

Angie (Chao) Zhang, Director, Vice President of Ming Yang Smart Energy, said: “Ming Yang and Octopus share a strong commitment to making clean energy affordable, reliable, and accessible.

“As a global leader in wind technology, Ming Yang is committed to accelerating the energy transition through innovation and community-focused solutions.

“This partnership marks an exciting step forward in delivering safe, efficient renewable energy to local communities across the UK.”