The first two wind projects sold on Octopus Energy’s new investment platform have sold out in just a week.
Following the “whirlwind success” of the first two turbines sold on “the Collective” platform and to meet this influx in investor demand, Octopus has now launched its “Pass the Power” campaign.
“Pass the Power” gives other green energy projects the ability to register their interest in listing on “the Collective” platform.
This is set to open up even more public ownership of clean energy projects like wind and solar farms.
“The Collective” is free for investors to join with no fees, to allow more people to directly buy a share of a renewables project, with the option to invest from £25 to £20,000.
Hundreds of Collective members chose to buy into the first two wind turbines, located in Yorkshire and in Wales, listed on the platform, with investments made across this entire range.
These investors can now track their investment and how much clean energy it’s generating in their Collective account.
Investors who are also Octopus customers have the added option of linking potential dividends to their energy accounts to reduce their bills.
Launching “the Collective” made Octopus the first energy company in the UK with a retail investment platform regulated by the Financial Conduct Authority (FCA).
Zoisa North-Bond, CEO of Octopus Energy Collective said: “Selling out our first two projects in just a week shows just how much demand there is to reshape and democratise how green energy is funded and owned.
“With our ‘Pass the Power’ campaign, we’re now also inviting other projects to register their interest in listing on our platform to unleash even more public ownership of renewables.
“By adding more projects onto ‘the Collective’, we can empower even more people to take part in the clean energy revolution.”