Wed. Oct 4th, 2023
    Octopus Energy Makes Investment in Borssele III and IV Offshore Wind Farm

    UK-based renewable energy company, Octopus Energy, has acquired a 10% stake in the Borssele III and IV offshore wind farm located in the Dutch North Sea. The wind farm has a capacity of 731.5 MW and has been fully operational since 2021. Octopus Energy’s investment in Borssele III and IV comes as part of its commitment to release $20 billion in investment for offshore wind globally.

    In addition to the investment in Borssele III and IV, Octopus Energy has also invested in Deep Wind Offshore, a global offshore wind developer with projects in Sweden, South Korea, and Norway. Octopus Energy also holds a stake in the Borssele V wind farm.

    The acquisition of the stake in Borssele III and IV marks an important milestone for Octopus Energy in the Dutch renewables market, as it only entered the market last year. The wind farm consists of 77 9.5 MW wind turbines and is designed to generate 3,000 GWh of energy annually, which is enough to power approximately 825,000 Dutch households.

    This investment also signifies a significant change in the ownership of Borssele III and IV. Partners Group, the previous majority stakeholder, has sold its stakes over the past few years. The new shareholder group will include Shell, Eneco, INPEX, Luxcara, Swiss Life Asset Managers, Glennmont Partners, and Octopus Energy Generation.

    Overall, Octopus Energy’s investment in the Borssele III and IV offshore wind farm demonstrates its commitment to expanding its presence in the renewable energy sector and supporting the transition to a sustainable energy future.

    – Borssele III and IV offshore wind farm: Located in the Dutch North Sea, Borssele III and IV is a fully operational wind farm with a capacity of 731.5 MW. It consists of 77 wind turbines.
    – Stake: A stake refers to the ownership or share in a company or project.
    – Offshore wind developer: A company or organization that specializes in the development of offshore wind energy projects.
    – GWh: Gigawatt-hour, a unit of energy equal to one billion watt-hours. It is commonly used to measure electricity generation or consumption.
    – Dutch households: Refers to the number of households in the Netherlands.
    – Shareholder group: A group of individuals or entities who own shares or equity in a company.