Octopus Energy Creates GBP 3 Billion Offshore Wind Fund
The title of this post, is the same as that of this article on offshoreWIND.biz.
This is the sub-heading.
Octopus Energy’s generation arm has launched a dedicated fund with Japan’s Tokyo Gas to invest GBP 3 billion (approximately EUR 3.5 billion) in offshore wind globally by 2030.
This is the first paragraph.
The fund, set up with a GBP 190 million (about EUR 217 million) cornerstone investment from Tokyo Gas, will invest in the development, construction, and operational stage offshore wind farms, as well as companies creating new offshore wind, with a focus on Europe, said Octopus Energy.
It’s almost as if Octopus Energy are planning to do for offshore wind power, what Gore Street and Gresham House Energy Storage Funds have done for battery storage.
It strikes me that a detailed purpose-built financial model, as I have built several times could give a lot of insight into the wind farms and their financing.
There is also a lot of technology coming on stream, that will help this sort of wind fund.
- In-farm energy storage will happen and this will be the obvious place to use energy storage to smooth out the power from offshore wind farms.
- Floating wind farms are becoming mature technology and appear to offering higher capacity factors.
- Floating wind farms may offer lower maintenance costs.
- Multi-Purpose Interconnectors are starting to be installed and will allow power to be sent to more than one destination in different countries.
- Wind farms are increasingly being linked to battery storage to smooth out the power from offshore wind farms.
- Electrolysers are being built offshore.
- Data analysis is playing its part in improving operational efficiency.
Now could be the time to take the plunge and build that offshore wind farm.
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