Octopus Energy Generation, one of Europe’s largest renewables and energy transition investors, acquired a 10% stake in the Dutch offshore wind farm Borssele III & IV from Partners Group, a leading global private markets firm.
Octopus acquired the stake on behalf of funds it manages including the Sky fund (ORI SCsp).
The 732 MW Borssele III & IV wind farm in the Dutch North Sea is made up of 77 turbines. Its 9.5 MW turbines are the largest in Octopus’ portfolio – each turbine as tall as the Gherkin building in London, UK. The wind farm has been operational since 2021 and generates enough power every year equivalent to around 825,000 Dutch households. The owners of the wind farm are joined in the Blauwwind consortium, including also Shell, Eneco, INPEX, Luxcara, Swiss Life Asset Managers, and Glennmont Partners from Nuveen.
This latest deal comes as Octopus continues to ramp up its global offshore wind activity. Recently it announced plans to unleash $20bn (£15bn) of investment into offshore wind globally. And just this month it invested in Deep Wind Offshore, a global offshore wind developer with projects in Norway, Sweden and South Korea.
Second Dutch wind farm investment
The Netherlands is Europe’s third largest offshore wind market after the UK and Germany, and its Government is targeting 70 GW offshore wind capacity by 2050.
“Investing in one of Europe’s largest wind farms in the Netherlands is a really exciting milestone as we only entered the Dutch renewables market last year. We’ve got big ambitions to supercharge the green energy transition globally. Offshore wind farms like these are boosting energy security and creating a more sustainable energy system for everyone.”Alex Brierley, Co-head of Octopus Energy Generation’s fund management team
Octopus has green generation projects in 15 countries. It started investing in offshore wind farms last year and since then has acquired stakes in the Lincs offshore wind farm and one of the world’s largest wind farms, Hornsea One in England on behalf of its investors. It also backs floating offshore wind developer Simply Blue.