- Octopus has invested in Simply Blue.
- The $8.8m investment will see Octopus acquire a 12% stake in Simply Blue.
Octopus Renewables Infrastructure Trust (ORIT) has invested €7.5 million ($8.8m) in Ireland’s Simply Blue Holdings. The company, through one of its subsidiaries, develops floating offshore wind projects. The investment will see Octopus acquire a 12 per cent stake in Simply Blue which has a 9GW portfolio.
Simply Blue’shave developed floating offshore wind projects mainly in the UK and Ireland. The company also develops wave energy and sustainable aquaculture projects.
Phil Austin, chairman of ORIT, states: “This investment will further diversify ORIT’s potential to create capital growth and may in time bring opportunities to invest in construction-ready assets arising from SBG’s development pipeline.”