Octopus Energy and Sterlite Power sign agreement to decarbonise India

The Octopus Energy Group and Sterlite Power have signed an agreement to help decarbonise the Indian industrial sector and bring cheaper green power to consumers around the world. The partnership aims to create smart green power systems in both countries. The MoU, signed at COP26, will see the two companies explore several joint retail ventures. Together, Sterlite Power and Octopus aim to build renewable energy generation and storage assets in India and deploy affordable renewable power to large industrial and commercial users. The companies are hoping to also supply cheap, green power to domestic consumers once the necessary regulations are in place. The tie-up will aim to apply Sterlite Pow­er’s transmission expertise in the UK and bring more competition to the established grid monopoly.