Octopus makes further offshore wind investment

Octopus Energy Generation is acquiring a further 15.5% stake in the 270MW Lincs offshore wind farm on behalf of the Sky fund and Octopus Renewables Infrastructure Trust. This increases the team’s total stake in the wind farm to 23.25%.

Sky fund, backed by institutional investors, took a 7.75% stake. ORIT doubled its stake by taking 7.75% to add to 7.75% acquired earlier this year.

The Lincs wind farm, off the coast of Skegness, comprises 75 wind turbines across 35 square kilometres. It has been operational since 2013 and is operated by Ørsted.

Octopus has been ramping up its offshore wind investments after entering the market for the first time earlier this year. It has acquiredthe Borssele V offshore wind farm in the Netherlands, and partnered with Nest and GLIL to take a stake in Hornsea One in the UK. It also took a stake in floating offshore wind developer Simply Blue last year.

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