Octopus Energy has acquired a 10% stake in the 714-megawatt East Anglia One (EA1) offshore wind farm, marking its seventh offshore wind deal in Europe.
The acquisition of the stake from Macquarie Asset Management, on behalf of Octopus Energy's offshore wind fund, comes as part of the company's ongoing investment in renewable energy. The value of the transaction has not been disclosed.
The EA1 wind farm, located 43 kilometers off the coast of Suffolk in the east of England, began producing energy in 2021. With 102 turbines, it ranks among the world's top 10 largest wind farms.
“This investment will help to turbocharge this clean technology further, bringing cheaper, greener power to people across the country,” said Zoisa North-Bond, CEO of Octopus Energy Generation. She added, “Britain is blessed with strong winds and long coastlines – perfect conditions for offshore wind. The sector has become a vital pillar of our energy system over the past years.”
This marks Octopus Energy's fourth investment in a British offshore wind farm, following previous acquisitions in Hornsea One, Lincs, and Walney Extension. The company has also expanded its presence in Europe with stakes in Germany's Butendiek and the Netherlands' Borssele V and Borssele III & IV.
The acquisition comes as Octopus Energy continues to pursue offshore wind opportunities across Europe, including plans to enter France's offshore wind tender in partnership with Skyborn Renewables.
In the past two years, Octopus Energy Generation has surpassed $2 billion in offshore wind deals, further solidifying its position as one of Europe's largest renewable energy investors.
The company's offshore wind fund focuses on both fixed and floating offshore wind technologies, as well as innovative solutions aimed at reducing energy costs.
