Octopus Renewables buys into floating wind developer Simply Blue

Octopus Renewables Infrastructure Trust (ORIT) has invested €7.5m ($8.8m) in Simply Blue Holdings Limited, the parent company of the Simply Blue Group (SBG), a developer of sustainable marine projects focused on floating offshore wind.

This is ORIT’s first investment in a renewable energy developer, as well as its first investment in the fast-growing offshore floating wind sector.

The investment, which is a co-investment alongside another fund managed by Octopus Renewable, entitles it to around 12% interest in SBG.

“This investment will further diversify ORIT’s potential to create capital growth and may in time bring opportunities to invest in construction-ready assets arising from SBG’s development pipeline,” Phil Austin, chairman of ORIT.

SBG has developed a pipeline of over 9 GW of floating offshore wind projects to date, primarily in the waters of the UK and Ireland. The Ireland-based SBG also has interests in wave energy and ancillary interests in sustainable aquaculture.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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