Octopus Energy Buys Stake in UK Offshore Wind Farm

(Image: Orsted)
(Image: Orsted)

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)

Current News

Enhanced Drilling Wins Equinor Contract for Norwegian Ops

Enhanced Drilling Wins Equinor

Perenco Spuds Appraisal Well Offshore Gabon

Perenco Spuds Appraisal Well O

PGS Hooks 3D Acquisition Project in Mediterranean Sea

PGS Hooks 3D Acquisition Proje

DOF Secures $13M Offshore Wind Export Cable Repair Job

DOF Secures $13M Offshore Wind

Subscribe for OE Digital E‑News

Offshore Engineer Magazine