Octopus Energy, a UK-based company, continues to solidify its presence in the offshore wind sector with its recent acquisition of a 10% stake in the East Anglia One wind farm. Located 43 km off the coast of Suffolk in the East of England, this wind farm has been operational since 2021 and has been contributing to the UK’s green energy supply. With 102 turbines, East Anglia One is among the top 10 largest operational wind farms globally, capable of generating enough clean power to supply around 700,000 homes with electricity annually.

The acquisition of this stake in East Anglia One was made from Macquarie Asset Management on behalf of Vector, Octopus Energy’s offshore wind fund. Vector focuses on investing in both fixed and floating offshore wind projects, as well as innovative technologies aimed at reducing costs in the sector. The wind farm is jointly owned by an Iberdrola subsidiary, ScottishPower Renewables.

This investment in East Anglia One marks Octopus Energy’s fourth venture into British offshore wind farms and its seventh in Europe. In addition to East Anglia One, Octopus Energy holds stakes in Hornsea One, Lincs, and Walney Extension in the UK, as well as Butendiek in Germany and Borssele V and Borssele III & IV in the Netherlands.

Looking towards the future, Octopus Energy is exploring opportunities in France’s offshore wind tender process and is working on developing a new offshore wind farm in collaboration with Skyborn Renewables. The company is committed to expanding its portfolio and contributing to the growth of clean energy production across Europe.

Zoisa North-Bond, CEO of Octopus Energy Generation, emphasized the significance of offshore wind energy in the transition to a sustainable energy system. She stated, “The sector has become a vital pillar of our energy system over the past years, and this investment will help to turbocharge this clean technology further, bringing cheaper, greener power to people across the country.”

Octopus Energy’s strategic investments in offshore wind farms not only demonstrate its commitment to sustainable energy solutions but also showcase its dedication to driving innovation and growth in the renewable energy sector. By expanding its presence in Europe and exploring new opportunities for development, Octopus Energy is positioned as a key player in the transition towards a more sustainable and environmentally friendly energy landscape.