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Generation Investment Management injects $600m into Octopus Energy
Al Gore’s investment management firm has pumped $600m into Octopus Energy, sending its valuation north to $4.6bn.
The agreement will see Generation Investment Management’s long-term equity strategy take an around 13 per cent stake in the supplier.
Octopus is set to use the bout of extra cash to ramp up renewable energy worldwide.
Managing over £3bn of renewable generation, Octopus is already one of the UK’s largest electricity generators, creating enough green power to keep 1.5m homes running across the UK.
The injections has made the supplier worth more than British Gas’ Centrica.