Octopus Energy’s generation arm, managing £6bn of green energy projects, has launched its first offshore wind fund.

Set up with a £190m cornerstone investment from Tokyo Gas, it plans to invest £3bn in offshore wind globally by 2030, in the development, construction, and operational stage of offshore wind farms, as well as companies creating new offshore wind.
This is a clear sign of the growing
Octopus first invested in offshore wind farms last year with its stakes in Hornsea One. Since then, it has rapidly scaled activity, backing one of Europe’s largest farms, Borssele III & IV in the Netherlands. It has also invested in developers of new offshore wind farms with projects in countries including South Korea, Norway, Sweden, Ireland and Spain. The fund creates next step in Octopus’ plans to invest £15bn in the sectors.

Julia Longbottom CMG, British Ambassador to Japan, said: “I am delighted to welcome this significant cornerstone investment from Tokyo Gas into the Octopus Energy Offshore Wind Fund, which will boost offshore wind development in the UK and globally. partnership between the UK and Japan on offshore wind, which was further strengthened by the Hiroshima Accord.”

The deal further strengthens Octopus Energy Group’s and Tokyo Gas’s strategic partnership who joined forces in 2020 to set up the energy supplier Octopus Energy in Japan.

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