Fund Solutions

Octopus Energy to Invest US$20 Billion in Offshore Wind

The generation arm of Octopus Energy has unveiled plans to invest US$20 billion in offshore wind by 2030. The arm already manages US$7.7 billion worth of green energy projects globally, with US$3.37 billion of those assets in wind. The investment in offshore wind will go towards the generation of 12 gigawatts (GW) of renewable electricity a year, which Octopus Energy projects will create enough power for 10 million homes. The global energy and technology group has made five offshore wind investment deals since entering the market last year totalling US$1 billion. Octopus has invested in Hornsea One, the Lincs offshore wind farm, both off England’s east coast. It also acquired the Borssele V wind farm in the Netherlands. The offshore wind sector could generate as many as 100,000 jobs by 2030 in the UK alone according to forecasts. Last year, the UK government announced a record 11GW of clean energy, secured via the largest ever round of its flagship renewables auction scheme, with offshore wind making up 7GW of that total. Zoisa North-Bond, CEO at Octopus Energy Generation, said: “We’ve got big plans to invest in even more of these big fans to help wean ourselves off polluting gas. Offshore wind will undoubtedly continue to play a pivotal role in meeting net zero, boosting energy security and driving down bills.” 

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top