(Boursier.com) — The production arm of Octopus Energy, in charge of managing green energy projects worth $7.7 billion globally, has announced that it is investing $20 billion in the offshore wind by 2030… An investment that will produce 12 GW of renewable energy, the amount of energy needed to power 10 million homes.
Octopus Energy is targeting projects around the world, particularly in Europe, and has several already underway. Through this investment, the company will support developers of new offshore wind farms as well as wind farms under construction or in operation.
5 offshore transactions carried out
The global technology and energy group entered the offshore wind farm market last year and has since completed 5 offshore transactions, for a total amount of $1 billion. Octopus Energy has stakes in the Lincs offshore wind farm and one of the world’s largest wind farms, Hornsea One, both located off the east coast of England. The company also acquired the Borssele V wind farm in the Netherlands, which has some of the largest turbines in the world. In addition, Octopus Energy also supports Simply Blue, which is developing innovative floating offshore wind turbine projects, a technological process that exploits strong winds further out to sea.
Increased investment in offshore wind will not only produce more green energy, but also create many job opportunities. The latest forecasts show that the offshore wind sector will create more than 100,000 jobs by 2030 in the UK alone1.
“Offshore wind has already rapidly transformed the UK’s energy system and we are very excited about the potential of this technology on a global scale. We intend to invest even more to end the polluting gas “Offshore wind will undoubtedly continue to play a vital role in achieving zero energy, increasing energy security as well as lowering consumer bills” according to Zoisa North-Bond, CEO of Octopus Energy Generation.
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