- Octopus takes a 10% stake in the 714MW East Anglia One offshore wind farm
- Among the largest wind farms worldwide, it powers around 700,000 homes a year
- Marks Octopus’ 7th offshore wind farm deal in Europe, cementing its commitment to supercharging the tech after hitting $2bn in offshore wind investments last year
Octopus Energy’s generation arm is making another big splash in offshore wind, chartering ahead with a 10% stake in the East Anglia One wind farm – one of the world’s largest operational wind farms.
The 714 MW wind farm is located 43 kilometers off the coast of Suffolk in the East of England and has been powering Britain with green energy since 2021.
With 102 turbines, it is among the top 10 biggest wind farms in the world, generating enough clean power to electrify around 700,000 homes a year.
This marks Octopus’ fourth investment in a British offshore wind farm and its seventh in Europe. It builds on its stakes in Hornsea One, Lincs and Walney Extension in Britain, Butendiek in Germany, and Borssele V and Borssele III & IV in the Netherlands.
Octopus is also making a play in France, announcing plans to enter the country’s offshore wind tender and develop a brand-new offshore wind farm in partnership with Skyborn Renewables.
Octopus Energy Generation – one of Europe’s largest renewables-only investors – has already surpassed $2 billion in offshore wind deals in two years.
Octopus acquired this latest wind farm stake from Macquarie Asset Management on behalf of Vector, Octopus’ innovative offshore wind fund, which invests in fixed and floating offshore wind and pioneering tech to reduce costs.
In addition to expanding its offshore wind portfolio, Octopus is also driving the creation of new wind farms globally through investments in developers and innovations like its ‘Fan Club’, which offers customers cheaper electricity when it’s windy.
Zoisa North-Bond, CEO of Octopus Energy Generation, said: 'Britain is blessed with strong winds and long coastlines – perfect conditions for offshore wind. The sector has become a vital pillar of our energy system over the past years, and this investment will help to turbocharge this clean technology further, bringing cheaper, greener power to people across the country.'
Source: Octopus Energy
