Image Credit: Octopus Energy
In a strategic move to bolster its presence in Europe, Octopus Energy's generation arm has finalized its investment in German renewables developer Lintas Green Energy. This significant partnership sees Octopus' Sky fund (ORI SCSp) acquiring a 50 percent stake in Oldenburg-based Lintas Green Energy, propelling forward ambitious plans to deploy 1GW of wind and solar power by the year 2030.
With a robust portfolio comprising over 20 green energy projects, Lintas is strategically positioned across critical regions in Germany, including Hesse, Bavaria, and Saxony-Anhalt. Octopus' investment injects fresh momentum into Lintas' development pipeline, facilitating the expansion of renewable energy infrastructure and facilitating energy supply agreements tailored to aid energy-intensive industries in their decarbonization efforts.
This investment aligns seamlessly with Octopus' broader vision for Germany, as the energy company eyes investments totaling up to €1bn in clean energy infrastructure by the year 2027. Octopus' foray into the German market dates back to 2022, marked by notable acquisitions such as its stake in the Schiebsdorf solar farm, a cornerstone asset in its renewable energy portfolio. The collaboration with Lintas represents Octopus' eighth strategic investment in Germany, underscoring its steadfast commitment to the region's sustainable energy transition.
Moreover, Octopus is actively engaged in forging partnerships with leading German corporations to catalyze emissions reduction initiatives. A recent landmark agreement with German steel producer Salzgitter Group exemplifies Octopus' commitment to supplying solar energy for the production of green steel, driving forward the green industrial revolution.
"Germany has been a leader of the global 'Energiewende' since the 1980s," said Alex Brierley, co-head of Octopus Energy Generation's fund management business. We're proud to be able to help the country speed up this transition by backing green projects and developers who are driving a cleaner, cheaper future.
"This latest deal with Lintas Green Energy is our eighth renewables deal in Germany and our first investment in a company creating new green power - and it won't be our last."Â