Image credit: Octopus Energy Generation
Today, Octopus Energy Generation didn't just dip a toe but took a full-fledged plunge into Europe's wind energy scene. They've clinched a 10% stake in the Dutch offshore juggernaut, the Borssele III & IV wind farm, which boasts a staggering 732MW capacity. Mum knows the exact figures involved in this deal, but the importance is crystal clear.
You know London's iconic 'Gherkin' skyscraper? Each wind turbine in this newly acquired asset reaches about that high. And these aren't just any turbines—they are the most muscular, 9.5MW turbines Octopus has ever invested in. With the farm already operational since last year, it generates enough electricity to power up nearly 825,000 Dutch homes annually.
This isn't Octopus Energy Generation's first Dutch rodeo, mind you. They had already thrown their hat in the ring last year with the acquisition of the neighboring Borssele V offshore wind farm. This latest stake was purchased from the Partners Group and is managed under Octopus's various investment funds, including the Sky fund.
Why this deal? Why now? It's part of Octopus's ambitious, and dare we say relentless, pursuit to inject £15 billion globally into offshore wind ventures. The company's recent international escapades include partnerships with Deep Wind Offshore, with a diversified project portfolio spanning Norway, Sweden, and South Korea.
In short, Octopus Energy Generation is not just flirting with renewables; they're in a committed relationship, continually working towards a greener, cleaner future. And the message they're sending is loud and clear: they're here to be a significant player in the global transition to renewable energy.
Alex Bierley, co-head of Octopus Energy Generation's fund management team, hailed the latest deal as a significant step forward for the company's plans. "Investing in one of Europe's largest wind farms in the Netherlands is a really exciting milestone as we only entered the Dutch renewables market last year," he said. "We've got big ambitions to supercharge the green energy transition globally. Offshore wind farms like these are boosting energy security and creating a more sustainable energy system for everyone."
Octopus said it now boasts green generation projects in 15 countries. It started investing in offshore wind farms last year and has acquired stakes in the Lincs offshore wind farm and the Hornsea One project in the UK on behalf of its investors. It also backs floating offshore wind developer Simply Blue.