Octopus Investments Australia, a subsidiary of the UK-based Octopus Group, has successfully acquired a significant wind project in New South Wales, Australia. The 400-megawatt (MW) wind project, known as the Hay Plains wind farm, was purchased from Juwi AG's local subsidiary, Juwi Renewable Energy Pty Ltd. The financial details of the transaction have not been disclosed.
Sam Reynolds, the Managing Director of Octopus Australia, officially confirmed the deal in a LinkedIn post on Tuesday. Reynolds expressed his enthusiasm about the acquisition, emphasizing that it represents a significant milestone for Octopus Australia's strategic plans. Octopus Australia aims to establish an extensive portfolio of energy assets that align with the future vision of clean energy generation in Australia.
Juwi AG's decision to divest the Hay Plains wind project is part of its strategic focus on providing renewable energy solutions exclusively to the mining and resources sector. In contrast, Octopus Australia is actively working to expand its renewable energy platform, which was established last summer. The platform focuses on making substantial investments in the wind, solar, and battery storage markets across Australia.
The Hay Plains wind farm will be situated in close proximity to the town of Hay, within the South West Renewable Energy Zone (REZ) of New South Wales. This project will complement Octopus' existing asset, the 333-MW Darlington Point solar complex located in the Riverina region of the state. The Darlington Point solar complex was the inaugural asset acquired by Octopus' Australian platform.
Octopus Investments Australia's acquisition of the Hay Plains wind project underscores the company's commitment to advancing Australia's clean energy sector. By building a diverse portfolio of renewable energy assets, Octopus aims to shape the future landscape of clean energy generation in the country.
