SUBSCRIBE
PROFILE

Octopus Energy: New conquest in Offshore Wind Energy

Octopus Energy Generation invests in the German offshore wind sector, acquiring a stake in the Butendiek wind farm and reinforcing its green ambitions.

Share:

Octopus Energy dans l'éolien offshore

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 $*

then 199 $/year

SUBSCRIBE — 99 $ for the 1st year

Create a free account to read this article

*renews at 199$/year, cancel anytime before renewal.

Octopus Energy, intensifies its presence in the German renewable energy market. After investing in the German energy sector last year, the company continues its expansion with the acquisition of a 5% stake in the Butendiek offshore wind farm. The 80-turbine park is located in the North Sea and has been operational since 2015. With a capacity of 288MW, it generates enough clean energy to power 370,000 homes.

Octopus strategy and investments in Germany

Octopus’ recent investment in Butendiek is part of a wider strategy to develop green energy in Germany. The company is committed to investing over €1 billion in green energy and infrastructure in Germany by 2030. In addition to Butendiek, Octopus has also invested in four onshore wind farms in Germany, with a total capacity of 100 MW, capable of supplying energy to 100,000 homes. In Germany, the company also launched its “Fan Club” tariff, a world first offering discounted electricity to customers living near two of its wind farms.

Octopus Global Vision and International Expansion

Octopus Energy’s ambitions are not limited to Germany. The company plans to invest $20 billion in offshore wind power worldwide. In addition to Germany, it has invested in offshore wind farms in the UK and the Netherlands, as well as in developers of new offshore wind projects in countries such as Norway, Sweden and South Korea.

Germany, a leader in offshore wind power and ambitious targets

Germany, currently the third largest offshore wind market in the world, has set an ambitious target of 70GW of offshore wind capacity by 2045, underlining its green ambitions. Zoisa North-Bond, CEO of Octopus Energy Generation, underlines the potential of offshore wind power on a global scale and the company’s commitment to supporting Germany in achieving its ambitious energy goals.
The investment in the Butendiek wind farm, made by the Sky fund (ORI SCSp) managed by Octopus Energy Generation, was acquired from ewz, Zurich’s municipal electricity company. This strategic move by Octopus marks a significant step towards reducing energy bills and ending dependence on polluting fossil fuels.

Octopus Energy’s entry into the German offshore wind sector represents a major step forward in the country’s energy transition. With strategic investments and a global vision.

  • Popular on energynews.pro
India diversifies coking coal purchases, Australia retreats
Quebec allocates $1.5M to meet the demand for wind turbine technicians
Equinor, Shell and TotalEnergies launch the first subsea CO2 injection in Norway
Guidehouse forecasts $8.1 billion revenues for modular reactors by 2034
AMIGO LNG signs 15-year deal with Macquarie for 0.6 MTPA of LNG
Polenergia commits 323 millions USD to offshore and storage projects
With 323 millions USD in cash, Polenergia strengthens its investments in offshore wind, solar and storage, targeting more than 2.3 GW of new energy capacity in Poland.
Valorem inaugurates 313 MW wind farm in Finland with 1 TWh annual output
French group Valorem has commissioned the ViIatti wind complex in Finland, made up of two farms totalling 313 MW and an estimated annual output of 1 TWh.
Trump Suspends $9.4 Billion Offshore Wind Project in the United States
The Revolution Wind project, already 80% complete, has been halted by the U.S. administration over national security concerns, creating major uncertainty in the sector.
Washington launches national security probe into imported wind turbines
The United States Department of Commerce is assessing the strategic impact of wind turbine imports amid rising tariffs and supply chain tensions.
RWE adds 34.2 MW of wind power on a former mining site in Aldenhoven
Six turbines installed by RWE on recultivated land near the Inden mine will supply electricity to around 24,000 households, while two new units are already planned.
Buchan Offshore Wind submits permit applications for a 1GW floating wind farm
Buchan Offshore Wind has submitted its marine consent applications to the Scottish authorities for a large-scale floating wind project, marking a strategic step in energy development in northeast Scotland.
VSB recommissions the Elster wind farm with 105.6 MW of installed capacity
The VSB Group has completed the repowering of the Elster wind farm in Germany, replacing 50 turbines with 16 new Siemens Gamesa machines, increasing the total capacity from 30 to 105.6 megawatts.
Montenegro: The EBRD Injects €26 Million to Expand the Gvozd Wind Farm
The EBRD’s additional financing will raise the capacity of the Gvozd wind farm to 75 MW, making it the largest in the country. This project, led by EPCG, marks a key industrial milestone in Montenegro’s energy sector.
Moscow develops Arctic turbines for the Northern Sea Route
The Russian Ministry of Industry and Trade is announcing "Arctic configuration" wind generators to power infrastructure on the Northern Sea Route, without listing any companies at this stage, with the stated aim of technological sovereignty.
Vestas maintains annual targets despite 44% drop in orders
The Danish turbine manufacturer posted a 14% increase in quarterly revenue, despite a sharp drop in order intake and negative cash flow.
Eurowind secures approval for two 86.4 MW wind projects in Germany
German authorities have approved two onshore wind projects totalling more than 86 MW, with commissioning planned from 2027.
Ørsted launches DKK60 bn capital increase with Danish state backing
Ørsted strengthens its financial structure with a rights issue backed by the state, following the failed partial sale of the US Sunrise Wind project.
Forestalia signs 10-year contract with Galp to refinance wind farm
Forestalia has signed a ten-year power purchase agreement with Galp Energia Espana to refinance a 42.7 MW wind farm in Aragon, securing stable revenues through coverage of 65% of its annual production.
Encavis AG acquires a 34 MW wind farm from PNE AG in North Rhine-Westphalia
Encavis AG continues its growth in Germany with the acquisition of a 34-megawatt wind project in Sundern-Allendorf, sold by PNE AG and secured by a twenty-year feed-in tariff.
Iberdrola receives the final Windar monopiles for its Windanker offshore wind farm
The last monopiles manufactured by Navantia Seanergies and Windar Renovables have been delivered to Iberdrola for the Windanker offshore project, marking a major milestone for the European XXL offshore wind component manufacturing industry.
Envision Energy validates reliability of its two-blade wind turbine with 500 days of stable operation
Envision Energy's two-blade prototype has now reached over 500 days of continuous operation, achieving a 99.3% availability rate and confirming its potential compared to industrial standards.
RWE secures four maintenance vessels to support its offshore wind fleet in Europe
RWE signs long-term agreements with North Star for four new service vessels, strengthening maintenance of its offshore wind farms in the United Kingdom and Germany amid a tight market for specialised maritime capacities.
AMEA Power launches Agadir desalination plant expansion with 150 MW wind farm
AMEA Power partners with Cox for the second phase of the Agadir desalination plant, set to reach 400,000 m³/day with power supplied by a 150 MW wind farm in Laayoune.
The 2 GW Northern Luzon floating wind project reaches key milestone in the Philippines
Buhawind Energy Northern Luzon Corporation secures grid connection study approval, bringing the launch of one of Southeast Asia’s largest offshore wind projects closer.
France secures EUR 11bn for three floating wind farms with European approval
France receives approval from the European Commission for a major public financing of EUR 11bn aimed at three floating wind projects totalling 1.5 GW, with a framework strengthening the national industry.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: $99 for the 1styear year, then $ 199/year.

SUBSCRIBE - €99