Green Energy Solutions with Ground Source Heat Pumps

Octopus Investments (UK) has partnered up with Geothermal International (GI) and recently announced they have entered an agreement with J Sainsburys Plc to install ground source heat pumps into some of their supermarkets. This is seen as part of Sainsbury's plans to move to a more renewable energy strategy and reduce carbon emissions by 30% in 2020.

This project will be worked on by Octopus and GI across some of Sainsbury's car parks. GI have over a decade of experience installing ground source heat pumps and have recently completed installation of the same technology in the One New Change development in London.

Octopus have a strong history of providing investment and offering innovative solutions to help support growth in green energy and renewables. They have developed this ability through their Venture Capital Trust and Enterprise Investment Scheme products.

Commenting on the agreement with Sainsbury’s, Joe Hartman, Investment Manager at Octopus, said: “We are very excited to have this opportunity to support Sainsbury’s in its renewables commitment. At Octopus we are able to move quickly to provide innovative investment to help customers achieve greater energy efficiencies. We’re looking forward to delivering on our agreement with Sainsbury’s and working with the experienced team at GI to establish the installations.

“The investment opportunity in the renewable energy sector is significant and the market continues to have strong support from the Government. With Octopus working alongside ‘best in class’ partners we believe we’re exceptionally well placed to realise the investment potential of the sector and to deliver on our commitments to investors.”

Neil Sachdev, Sainsbury’s Property Director, added: “Our partnership with Octopus and GI is an important milestone in our renewable energy strategy, supporting job creation in the renewable energy sector. Their combined expertise and long-term approach, underpinned by performance, supports our goal to reduce our absolute carbon emissions by 2020 and deliver energy cost savings for our business.”