Octopus tops up German onshore wind portfolio
Octopus Energy Generation has acquired a 22.4MW onshore wind farm in Germany from renewables developers JUWI and wiwi consult.
Th eacquisition was made through Octopus’ Sky fund (ORI SCSp).
The wind farm is currently being constructed in the town of Wörrstadt, near Frankfurt, with operations expected to start next year (2023). Once completed, it will comprise 4 x Vestas turbines.
Octopus also acquired the German Leeskow Onshore Wind Farm (34.6MW) last month (September). This deal was made through Octopus Renewables Infrastructure Trust.
These 2 recently-acquired German wind farms will together power more than 41,000 households, avoiding around 55,000 tonnes of CO2 emissions each year.
Octopus entered the German renewables market in June with the acquisition of Gaishecke Onshore Wind Farm (35MW). The company plans to expand its presence in Germany to 1.2GW of capacity by 2030.
Zoisa North-Bond, chief exec of Octopus Energy Generation, said: “After entering Germany’s renewable generation market for the first time earlier this year, we’re really accelerating momentum with these 2 latest wind farm deals.
“We’re continuing to ramp up our renewable generation capabilities across Europe as more local cheap green energy is needed now more than ever as countries look to secure greater energy independence.”
Andrew Mack, chief exec of Octopus Energy Germany, added: “Octopus is really stepping up the range of what we’re doing to accelerate the drive to a greener, cheaper energy system for everyone. As a country that’s been so dependent on Russian gas, onshore wind farms like these are integral to help wean the country off imported gas.”
Advisers to Octopus:
- Ashurst – legal
- BDO – tax
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