Octopus Energy has taken a 10% stake in the 714MW East Anglia One (EA1) offshore wind farm.
The EA1 transaction marks Octopus Energy’s seventh offshore wind farm deal in Europe.
The value of the deal has not been disclosed.
Octopus acquired this latest wind farm stake from Macquarie Asset Management on behalf of Vector, Octopus’ offshore wind fund, which invests in fixed and floating offshore wind and pioneering tech to reduce costs.
EA1 is located 43 kilometres off the coast of Suffolk in the east of England and has been producing green energy since 2021.
With 102 turbines, it is among the top 10 biggest wind farms in the world.
This marks Octopus’ fourth investment in a British offshore wind farm and its seventh in Europe.
It builds on 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 $2bn in offshore wind deals in two years.
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: reNews
