- The firm acquired a 10 per cent stake in the 732MW Borssele III & IV wind farm in the Dutch North Sea.
- The offshore wind farm would provide the most powerful turbines in Octopus Energy Generation’s growing portfolio.
Octopus Energy’s generation arm has announced its investment in one of continental Europe’s largest wind farms. The firm disclosed that it acquired a 10 per cent stake in the 732 megawatt (MW) Borssele III & IV wind farm in the Dutch North Sea.
Octopus said the deal would drive the wind farm’s 9.5MW turbines to become the largest in its growing portfolio. Each turbine would measure roughly the same height as the ‘Gherkin’ skyscraper in London. The project has been operational since 2021 and generates enough power yearly for about 825,000 Dutch households.
The wind farm represents Octopus Energy Generation’s second major investment in the Dutch market, following last year’s acquisition of the neighbouring Borssele V offshore wind farm. Octopus Energy Generation said it acquired the 10 per cent stake from seller Partners Group on behalf of funds it manages, including the Sky fund.
The deal is the latest in a string of international investments from Octopus as it works to deliver on its target of investing £15bn in offshore wind projects globally. Recent deals include an investment in Deep Wind Offshore, a global offshore wind developer with projects in Norway, Sweden, and South Korea.
Octopus said it now boasts green generation projects in 15 countries. It started investing in offshore wind farms last year and has acquired stakes in the Lincs offshore wind farm and the Hornsea One project in the UK on behalf of its investors. It also backs floating offshore wind developer Simply Blue.
The co-head of Octopus Energy Generation’s fund management team, Alex Bierley, said, “Investing in one of Europe’s largest wind farms in the Netherlands is an exciting milestone as we only entered the Dutch renewables market last year. We’ve got big ambitions to supercharge the green energy transition globally. Offshore wind farms like these boost energy security and create a more sustainable energy system for everyone.”