Octopus Energy's generation arm has taken a significant step in expanding its global offshore wind portfolio by acquiring a 10% stake in the 732MW Borssele 3&4 offshore wind farm, located in the Dutch North Sea. This strategic investment was made through Octopus Energy Generation on behalf of funds it manages, including the Sky fund (ORI SCsp).
The 732MW Borssele 3&4 wind farm, which boasts 77 9.5MW turbines, has been operational since 2021. Octopus Energy Generation's move to acquire a stake in this wind farm comes as part of its broader efforts to accelerate its presence in the global offshore wind sector.
Octopus Energy recently unveiled plans to commit £15 billion to offshore wind projects worldwide. In a significant move earlier this month, the company also invested in Deep Wind Offshore, a prominent offshore wind developer with active projects in Norway, Sweden, and South Korea.
Octopus Energy first entered the Dutch renewable energy market in the previous year with the acquisition of the Borssele 5 offshore wind farm, which is situated within the Borssele wind farm zone. The Netherlands ranks as Europe's third-largest offshore wind market, following the United Kingdom and Germany. The Dutch government has set ambitious targets, aiming for 70GW of offshore wind capacity by 2050.
Commenting on the investment, Alex Brierley, Co-head of Octopus Energy Generation's fund management team, expressed enthusiasm, stating, “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. We've got big ambitions to supercharge the green energy transition globally.” Brierley emphasized the crucial role of offshore wind farms in enhancing energy security and fostering a more sustainable energy system on a global scale.
