UK-based Octopus Energy has made another investment in the offshore wind sector, this time via the acquisition of a 10% stake in the East Anglia One wind farm.
The 714MW wind farm is located 43 km off the coast of Suffolk in the East of England and has been powering Britain with green energy since 2021. With 102 turbines, it is among the top 10 biggest operational wind farms in the world, generating enough clean power to electrify around 700,000 homes a year.
This stake in East Anglia One was bought from Macquarie Asset Management on behalf of Vector, Octopus’ offshore wind fund, which invests in fixed and floating offshore wind and pioneering tech to reduce costs. The other owner of the wind farm is an Iberdrola subsidiary, ScottishPower Renewables.
This marks Octopus Energy’s fourth investment in a British offshore wind farm and its seventh in Europe. It builds on its stakes in Hornsea One, Lincs and Walney Extension in Britain, Butendiek in Germany, and Borssele V and Borssele III & IV in the Netherlands.
Octopus is also looking to enter France’s offshore wind tender and develop a brand-new offshore wind farm in partnership with Skyborn Renewables.
“The sector has become a vital pillar of our energy system over the past years, and this investment will help to turbocharge this clean technology further, bringing cheaper, greener power to people across the country,” said Zoisa North-Bond, CEO of Octopus Energy Generation.
