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Octopus Energy’s arm to invest $20 billion in offshore wind by 2030

Octopus Energy’s generation arm has announced plans to invest $20 billion (£15 billion) into offshore wind by 2030. The investment is expected to generate 12 GW of renewable electricity capacity.

The company is an energy and technology group engaged in offering green energy systems.

It invests in, builds, and manages renewable energy. Globally, Octopus Energy’s generation arm manages $7.7 billion of green energy projects. 

It is focused on projects all over the world, especially in Europe. It plans to aid developers of new offshore wind farms and wind farms (under construction or operational). 

The company has made five offshore deals, amounting to approx $billion (£800m).

The company has acquired the Borssele V wind farm in the Netherlands. It also owns a stake in Lincs offshore wind farm and the Hornsea One, both in England.

Octopus has also invested in Simply Blue, a developer of floating offshore wind projects.

Additionally, the company states that scaling investment in offshore wind supports clean energy and job opportunities.

Zoisa North-Bond, CEO of Octopus Energy Generation, said: “Offshore wind has already rapidly transformed the UK’s energy system – and we’re incredibly excited about the potential for this technology globally. We’ve got big plans to invest in even more of these big fans to help wean ourselves off polluting gas. Offshore wind will undoubtedly continue to play a pivotal role in meeting net zero, boosting energy security, and driving down bills.”

Source: https://octopus.energy/press/making-waves-octopus-energy-to-unleash-20bn-of-investment-in-offshore-wind-by-2030/