Octopus Energy’s generation arm has invested in one of continental Europe’s largest wind farms: the 732 MW Borssele III & IV, made up of 77 turbines in the Dutch North Sea. Its 9.5 MW turbines are the largest in Octopus’ portfolio – each as tall as the 591-foot Gherkin skyscraper in London. Operational since 2021, the wind farms generate enough power every year equivalent to around 825,000 Dutch households.
Octopus continues to ramp up its global offshore wind activity. It recently revealed plans to invest $20 billion into offshore wind globally. And it began making good on that pledge earlier this month by investing in Deep Wind Offshore, a global offshore wind developer with projects in Norway, Sweden and South Korea.
One of Europe’s largest renewables and energy transition investors, Octopus Energy Generation acquired a 10% stake in Borssele III & IV wind farms from the seller Partners Group, a global private markets firm acting on behalf of its clients. Octopus acquired the stake on behalf of funds it manages including the Sky fund (ORI SCsp).
Octopus first entered the Netherlands’ renewable energy market last year with the acquisition of the Borssele V offshore wind farm, also part of this Borssele wind farm zone. The Netherlands is Europe’s third largest offshore wind market after the United Kingdom and Germany, and its government is targeting 70 GW offshore wind capacity by 2050.
Octopus has green generation projects in 15 countries. It began investing in offshore wind farms last year and since then has acquired stakes in the Lincs offshore wind farm and one of the world’s largest wind farms, Hornsea One in England on behalf of its investors. It also backs floating offshore wind developer Simply Blue.