Renewable energy investor Octopus Energy Generation announced a €584 million (USD$687 million) investment to expand onshore wind energy capacity across Europe, acquiring 321 MW of onshore wind farms across 17 sites in France, Germany and Poland.
According to Octopus Energy Generation CEO Zoisa North-Bond, the new investments come as countries are now turning to clean energy, with renewables offering decentralized power sources to enable energy independence and security, amid price volatility for gas and rising geopolitical risk.
North-Bond added:
“From France to Germany and Poland, these latest projects are part of a wider shift away from polluting fossil fuels and towards homegrown, affordable, clean power.
The investments, made on behalf of the company’s Sky fund, is expected to generate enough clean electricity to supply more than 250,000 homes annually.
In France, Octopus acquired 143.5 MW of wind capacity across 10 sites located in Hauts-de-France, Grand Est, Bourgogne-Franche-Comté, Brittany, Centre-Val de Loire and Nouvelle-Aquitaine. The projects, which include operational and under-construction assets, are expected to supply renewable electricity to approximately 65,000 homes each year.
In Germany, the company acquired four wind farms with a combined capacity of 102.5 MW across Lower Saxony, Brandenburg, Hesse and Baden-Württemberg. Two of the projects are already operational, while the remaining two are under construction. Together, the projects are expected to generate enough clean energy to power approximately 71,000 homes annually.
In Poland, Octopus acquired three operational wind farms in the north of the country with a combined capacity of 75 MW, generating enough renewable electricity to supply approximately 120,000 homes each year. The transaction also includes access to a pipeline of renewable energy projects under development.
Following the investment, Octopus said that it now manages 67 onshore wind farms across Europe and over 400 large-scale renewable projects across the globe.
