Octopus and GLIL invest £400 million in Hornsea One wind farm

For £400 million, Octopus Energy Generation and GLIL Infrastructure purchased a 12.5 per cent stake in the Hornsea One wind farm in the UK. Each of the two companies contributed £200 million to the 1.2 GW offshore wind farm, with Octopus making the investment on behalf of Nest, a British pension scheme. The Hornsea One wind farm, which has been in operation since 2020 and is located offshore of Yorkshire, generates clean energy for more than one million homes. The offshore facility is operated by the Danish company Ørsted and is outfitted with 174 wind turbines.

In May 2022, Octopus Energy Group announced a financial and strategic partnership with Xlinks, a company that is building an interconnector between Moroccan solar farms and the UK. Xlinks is laying four 3,800 km subsea cables for the Morocco-UK power project, which would connect a renewable energy facility in the Moroccan desert with Devon, UK. The site will be able to provide 3.6 GW of renewable energy to the UK for an average of 20 hours per day, which is enough to run nearly seven million heat pumps every year.

GET ACCESS TO OUR ARTICLES

Enter your email address