Octopus Energy’s generation arm has made an investment in the 732MW Borssele 3&4 offshore wind farm in the Dutch North Sea.
Octopus Energy Generation acquired the 10% stake in this wind farm from the seller Partners Group, a global private markets firm acting on behalf of its clients.
Octopus acquired the stake on behalf of funds it manages including the Sky fund (ORI SCsp).
This latest deal comes as Octopus continues to ramp up its global offshore wind activity.
Recently it announced plans to invest £15bn into offshore wind globally and earlier this month it also invested in Deep Wind Offshore, a global offshore wind developer with projects in Norway, Sweden and South Korea.
Borssele 3 & 4, which hosts 77 9.5MW turbines, has been operational since 2021.
Octopus first entered the Netherlands’ renewable energy market last year with the acquisition of the Borssele 5 offshore wind farm, also part of the Borssele wind farm zone.
The Netherlands is Europe’s third largest offshore wind market after the UK and Germany, and its Government is targeting 70GW offshore wind capacity by 2050.
Co-head of Octopus Energy Generation’s fund management team Alex Brierley said: “Investing in one of Europe’s largest wind farms in the Netherlands is a really exciting milestone as we only entered the Dutch renewables market last year.
“We’ve got big ambitions to supercharge the green energy transition globally.
“Offshore wind farms like these are boosting energy security and creating a more sustainable energy system for everyone.”