Octopus Energy buys 10% stake in Dutch offshore wind farm

Octopus Energy has secured a 10% ownership in the Borssele III & IV offshore wind farm located in the Dutch North Sea, with the purchase amount remaining undisclosed.

This acquisition is a component of the company’s ambitious $20 billion investment strategy in offshore wind, announced on Tuesday. The wind farm, boasting a capacity of 732 MW and operational since 2021, produces sufficient energy annually to cater to the needs of approximately 825,000 Dutch homes, as stated by Octopus Energy.

The generation division of Octopus procured the stake from the private markets company, Partners Group.

The UK-based firm is already the proprietor of the 19 MW Borssele V offshore wind farm in the Netherlands.

Additionally, this recent acquisition comes on the heels of a declaration earlier this month about an investment in the Norwegian offshore wind developer, Deep Wind Offshore.

This initiative aligns with Octopus’ strategy to channel £15 billion into global offshore wind endeavours.

In recent years, Octopus has diversified its portfolio by acquiring interests in the UK’s Lincs and Hornsea One offshore wind farms, with the latter being among the world’s most expansive wind farms.

With 77 turbines, each rivalling the height of London’s Gherkin building, Borssele III & IV provides Octopus with an increased presence in Europe’s third biggest offshore wind sector.

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