Skip to content

Octopus Group Says Indigenous Energy Venture Could Lure $36 Billion

  • Unit to partner with Aboriginal Australians on renewables
  • Proposals expected to attract major investment over 10 years

Octopus Group will partner with Aboriginal Australian communities on plans for renewable energy projects that it forecasts could attract investments of as much as A$50 billion ($36 billion) over 10 years. 

The Desert Springs Octopus venture would aim to export clean energy from northern Australia to space-constrained nations including Singapore and Japan, which have challenges in developing wind and solar capacity. Plans could also involve hydrogen production, water infrastructure and agricultural projects, the Northern Territory Indigenous Business Network and Octopus Australia unit said in a statement.