The Anonymous Widower

Octopus Energy To Pour Billions In Offshore Wind Globally By 2030

The title of this post, is the same as that of this article on offshoreWIND.biz.

This is the sub-heading.

UK green energy supplier Octopus Energy Group has announced that it will invest, through its generation arm, USD 20 billion (about GBP 15 billion) into offshore wind by 2030.

These three paragraphs outline the investment.

The company said that this will go towards the generation of 12 GW of renewable electricity a year, enough to power 10 million homes.

Octopus is targeting projects across the globe, with a focus on Europe, and already has several deals in the pipeline.

It will back developers of new offshore wind farms as well as projects that are under construction operational, according to the press release.

Note.

1. This is the original press release from Octopus Energy, which is entitled Making Waves: Octopus Energy To Unleash $20bn Of Investment In Offshore Wind By 2030.
2. According to the press release, Octopus Energy also backs Simply Blue, a developer of innovative floating offshore wind projects, a type of offshore wind technology that taps into strong winds deeper out at sea.
3. I will be interested to see how much capacity, Octopus Energy builds in the UK and how the capacity relates to their electricity sales in the UK.

Octopus Energy seem to have their tentacles into several worthwhile projects.

They will certainly need a lot of finance.

In World’s Largest Wind Farm Attracts Huge Backing From Insurance Giant, I describe Aviva’s philosophy about investing in renewable electricity infrastructure, based on an article in The Times.

I suspect other reputable companies and funds will follow Aviva’s lead. Provided, that the infrastructure is top-notch and well-managed.

July 25, 2023 - Posted by AnonW | Energy, Finance | Octopus Energy, Offshore Wind Power, Simply Blue Group, Wind Power