China: joint venture between Octopus Energy and PCG Power to trade renewable electricity

Bitong Energy is the name of the renewable electricity trading joint venture launched by Octopus Energy and China's PCG Power Group on 30/01/2026.

" The new company, named Bitong Energy, will combine the experience of PCG Power, an investor and solution provider in the renewable energy sector for commercial and industrial (C & I) customers in China, and Octopus' technologies dedicated to the trading and optimisation of green electricity", say the two partners.

The company will operate on the spot electricity markets in China. The joint venture is being launched in Guangdong province, the country's main spot market, before being extended nationwide.

Bitong Energy is targeting a trading volume of up to 140 TWh of renewable electricity per year by 2030, a volume comparable to the current production of green electricity in the UK. "The business could generate annual profits of around £50m (€58m), half of which would be generated in the UK," says Octopus. In five years' time, by 2030, the joint venture is aiming for a value "in excess of £500m (€577m) with the export of UK software and…