Tokyo Gas is paying $200m for a 9.7% stake in the clean energy utility while existing backer Origin energy is kicking in another $50m.
Energy utility Tokyo Gas has invested $200m in UK-headquartered clean energy supplier Octopus Energy Group at a $2.1bn valuation.
Another energy utility Origin Energy agreed in May this year to pay approximately $327m over four years for a 20% stake in Octopus, and is supplying approximately $50m for the company alongside the Tokyo Gas funding, which will give it a 9.7% stake.
Octopus provides electricity from renewable sources for some 1.8 million UK customers, both directly and through distribution…
