Octopus Energy Generation has announced that it has invested more than $2 billion in offshore wind projects globally over the past two years, as part of its ambitious expansion in the sector. The company revealed plans to increase its investment to $20 billion by 2030.
Since entering the offshore wind market in 2022, Octopus Energy Generation has acquired stakes in six European wind farms, including significant projects like the 1.2GW Hornsea 1, the 270MW Lincs, and the 659MW Walney Extension in the UK. The company has also secured assets in the Netherlands and Germany.
“We're strong believers in wind power's massive role as a cornerstone of energy systems globally,” said Zoisa North-Bond, CEO of Octopus Energy Generation. “Our ability to invest over $2bn into offshore wind in just two years is the start. Wind can create a greener and cheaper energy system for people around the world. We're now geared up to unleash billions more into offshore wind projects worldwide.”
In addition to its investments in offshore wind farms, the company has also backed floating offshore wind technology business Ocergy through its Vector fund. Octopus has also extended its “Fan Club” discount scheme to energy customers living near one of its offshore wind farms, demonstrating its commitment to integrating renewable energy with community benefits.
