Octopus Energy’s valuation hits nearly USD 8 bn: UK-based energy supplier and renewables investor Octopus Energy has raised USD 800 mn from investors in a fundraising round, bringing its current valuation to USD 7.8 bn, Financial Times reports.

Investors: The Canada Pension Plan Investment Board invested USD 326 mn, raising its stake to 11% from 6%. Australia’s Origin Energy put in USD 305 mn, taking its stake to 23% from 20%.

Octopus has regional ties:The Abu Dhabi National Energy Company (Taqa) signed an agreement with Octopus Energy Group earlier this month to trial the latter’s AI-powered energy management platform Kraken across its UAE operations. The company announced in July that it will earmark USD 20 bn by the end of the decade to fund offshore wind energy projects globally.

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