Octopus Australia has entered into a strategic partnership with Dutch pension fund investor APG Asset Management, with APG set to commit more than A$1 billion (US$670 million) to Octopus’s renewable energy platform, the companies said on Tuesday.
The investment will support the expansion of Octopus Australia’s Oasis platform, which focuses on utility-scale solar, wind, and battery storage projects across the country. The agreement is subject to approval by the Foreign Investment Review Board and other regulatory bodies.
“This partnership marks a transformational moment for both our business and the broader Australian energy landscape,” said Sam Reynolds, chief executive of Octopus Australia. “To be chosen as the local partner by a global investor of APG’s calibre is a powerful endorsement of our strategy and team and is a reflection of Australia’s position as a leading destination for long-term, sustainable infrastructure investment.”
The Oasis platform currently oversees an operational and development pipeline valued at more than A$11 billion, and includes backing from investors such as Australian superannuation funds Rest and Hostplus, the Clean Energy Finance Corporation, international pension funds, and private financial institutions.
APG, which manages over €600 billion in assets on behalf of Dutch pension funds, said the partnership aligns with its long-term infrastructure investment strategy and climate goals.
“Our partnership with Octopus Australia represents a substantial opportunity to drive meaningful impact around critical climate priorities with best-in-class renewables projects that are strongly positioned to generate value for decades to come,” said Hans-Martin Aerts, APG’s head of infrastructure and private natural capital in Asia Pacific.
Octopus said the collaboration would strengthen its ability to deliver projects that support Australia’s energy transition and contribute to national decarbonisation targets.
“Our teams are strongly aligned in purpose and ambition,Reynolds added. “Together, we will continue delivering projects that create long-term value for investors and communities.
