Octopus Energy Buys Stake in UK Offshore Wind Farm

Monday, November 27, 2023

Britain's Octopus Energy has bought a 12.5% stake in the 660 megawatt (MW) Walney Extension offshore wind farm in the Irish Sea from a group of Danish pension funds, it said on Monday.

Octopus bought the stake from AIP Management, the investment manager for Danish pension funds PKA and PFA, it said without providing financial details of the transaction.

Walney Extension is operated by Denmark's Orsted, which holds a 50% stake. It has been operational since 2018, producing enough power for nearly 600,000 homes.

The latest investment was made through the 3 billion pound ($3.7 billion) Octopus Energy Offshore Wind fund the company launched this month.

Octopus Energy already holds stakes in British offshore wind farms Hornsea One and Lincs. It is also expanding its global investments in the technology globally with deals in Europe and Asia.

($1 = 0.8025 pounds)

(Reuters - Reporting by Nora Buli in Oslo; Editing by David Goodman)

Categories: Industry News Europe Renewables Offshore Wind

Related Stories

Odfjell Oceanwind Launches Foundations Production Unit for Floating Wind

Dominion Partners with Stonepeak to Fund Coastal Virginia Offshore Wind

DEME Installs First XXL Monopile for Moray West Offshore Wind Farm

Current News

Ørsted Installs All Offshore Wind Turbines for 900MW Projects in Taiwan

Viaro Energy Grows North Sea Oil and Gas Portfolio

Jozwiak Joins GLO Marine as Green Transition Lead

Vaalco Plans Baobab FPSO Upgrade Following Svenska Petroleum Acquisition

Subscribe for OE Digital E‑News