Three months of acquisitions in France, the UK and two Nordics have set Octopus Energy’s fund management specialists on track to boost its asset portfolio by 90%.
To a pre-announced UK joint development deal with Wind2, embracing nine farms in Scotland and Wales, Octopus Renewables is adding a 14.1 MWp onshore wind farm at Broons in north-east Brittany, France.
The transaction was negotiated with Energiequelle, a German project developer and operator of power storage facilities. Six Enercon turbines adorn the Breton landscape.
Octopus’ third deal in Sweden sees it buying a ready-to-build onshore wind project from developer OX2 in Marhult, near the city of Växjö. Once erected, the seven Vestas turbines of the 31.5 MW farm will generate enough electricity for the yearly needs of 18,000 homes.
in Finland Octopus Renewables has snapped up two operating onshore farms. The Saunamaa and Suolakangas wind facilities have a combined capacity of 71.4 MW. They will generate enough energy to power over 45,000 homes, avoiding the equivalent of 68,000 tonnes of carbon dioxide emissions annually. Sweetening the deal is a five-year PPA with Baltic energy company Eesti Energia. enabling the supplier to provide its customers with more clean energy.
Octopus’ investment team already manages 745 MW of turbines. These deals will boost its wind capacity by up to 90% over the next decade.
Zoisa North-Bond, CEO of Octopus Energy Generation, commented: “We’re blown away by the prospect of building so many wind farms in the UK and further afield in Europe.
“The energy crisis has shown how exposed Europe is to global fossil fuel prices. These new wind farms will help Europe reduce its reliance on gas and become energy independent. Stepping up renewable generation will help deliver Net Zero targets and supercharge the green energy revolution.”