Octopus Energy’s generation arm has bought a 12.5% stake in the 660MW Walney Extension wind farm offshore England.
Situated in the Irish Sea off the coast of Barrow-in-Furness amongst a cluster of offshore wind farms, the wind farm produces clean energy for nearly 600,000 homes using its 87 turbines. It has been operational since 2018.
Octopus Energy secured its stake in the Walney Extension by acquiring it from AIP Management, the investment manager for Danish pension funds PKA and PFA.
This is the sixth offshore wind farm Octopus has invested in since last year. It backed Hornsea One and Lincs in the UK as well as two offshore wind farms in the Netherlands and one in Germany.
Octopus Energy also launched its £3bn ($3.8bn) Offshore Wind fund – set up in tandem with an investment from Tokyo Gas.
“We’re overjoyed to make this investment after we recently announced our Offshore Wind Fund, and we’ll continue to rapidly scale our offshore wind activity globally,” Zoisa North-Bond, Chief Executive Officer of Octopus Energy Generation, said.
