Octopus Capital has raised £100 million to build around 1000 new so-called ‘Zero Bills’ homes in England and Scotland.
The funding, which includes £50 million from the Scottish National Investment Bank, has been raised through Octopus Capital’s Affordable Housing Fund.
The funding will be used to build rental properties where residents are guaranteed to pay no energy bills (except EV charging) for 5-10 years.
Octopus Energy said it has already partnered with over 60 developers including including Vistry, The Hill Group, Wates Residential, Thakeham, Lloyds Living, Aviva Investors – Packaged Living, Urban & Civic, Clarion Housing Association, Platform Housing Group and SNG.
It aims to deliver 100,000 Zero Bills homes by 2030across Germany, France, New Zealand and the UK.
Nigel Banks, Zero Bills Director at Octopus Energy, said: “For too long, people have had to choose between affordability and sustainability. Zero Bills homes remove that trade-off – they’re cheaper to live in, better for the planet, and powered by the latest clean tech.
“This investment means thousands more people will be able to move into homes where they won’t have to worry about home energy bills. It’s a game-changer for renters and homeowners alike.”