The renewables generation business of Britain’s Octopus Energy Group intends to spend USD 20 billion (EUR 18bn) on offshore wind projects development by the end of the decade, it announced on Monday.
Octopus Energy Generation, which has about USD 7.7 billion worth of green energy projects under management worldwide, expects the planned investment to result in the installation of 12 GW of capacity. The company’s focus will be on, but not limited to, European projects. It said it will support both new schemes and wind farms that are already under construction or in operation.
The British group has minority stakes in both the Hornsea One and Lincs wind farms off the east coast of England, and is the owner of the Borssele V wind park located in Dutch waters. In addition, the company backs Irish floating wind developer Simply Blue Group.
According to the latest announcement, Octopus Energy has now invested about USD 1 billion in the offshore wind market through five deals.
(USD 1.0 = EUR 0.899)
Choose your newsletter by Renewables Now. Join for free!
