Octopus acquires 10 per cent stake in Borssele III & IV offshore wind farm

Octopus Energy Generation has finalised an agreement to buy 10 per cent stake in the 732 MW Dutch offshore wind farm Borssele III & IV from Partners Group. Partners group  will completely exit the project after the regulatory approvals are received. The company acquired a 45 per cent share in the project in June 2018. It offloaded a 20 per cent investment to Swiss Life Asset Managers last year, and a 15 per cent stake to Nuveen Infrastructure this July. Borssele is planned to make a meaningful contribution towards decarbonisation goals in the Netherlands as a fully operational wind farm.

Borssele III & IV is situated 55 km from the Port of Vlissingen in the Dutch North Sea and is supplied power by 77 Vestas turbines, each with 9.5 MW of capacity. The wind farm has produced 3,000 gigawatt-hours of clean energy, enough to power almost 825,000 Dutch homes after beginning its operations in 2021. Additionally, this project benefits from a feed-in premium regime supported by the Dutch Government, which ensures long-term contracted cash flows.

In May 2023, Octopus Energy committed to investing in three wind farms in France with a total capacity of 49 MW. Octopus made the investment as part of its plan to invest $1.09 billion in the French green energy industry between 2023 and 2025. The three wind farms, Croix Erable, Bertaut, and Le Langrois, provided enough clean energy to power 30,000 French households. The projects were located in the Vienne and Haute Marne regions of France and are currently under construction.