Octopus Energy’s generation arm has invested in the Walney Extension offshore wind farm in the UK. It is located in the Irish Sea off the coast of Barrow-in-Furness in the north west of England. Octopus has taken a 12.5 per cent stake in the 660 MW wind farm. The wind farm is made up of 87 turbines each taller than the 158 metres high Blackpool tower.
Reportedly, the wind farm has been operational since 2018 and produces clean power for nearly 600,000 homes. This latest investment was made by the newly launched £3 billion Octopus Energy Offshore Wind fund – set up with a cornerstone investment from Tokyo Gas – and the Sky fund (ORI SCsp), both managed by Octopus Energy Generation.
In September 2023, Octopus Energy Generation finalised an agreement to buy 10 per cent stake in the 732 MW Dutch offshore wind farm Borssele III & IV from Partners Group. Partners group will completely exit the project after the regulatory approvals are received. The company acquired a 45 per cent share in the project in June 2018.
