Octopus grows wind portfolio with UK and German investments
Octopus has expanded its onshore and offshore wind portfolio with two investments in the UK and Germany.
The asset manager today announced it has acquired an additional 7.75 per cent stake in the Lincs offshore wind farm, while also buying the Leeskow facility in Brandenburg, north-east Germany.
Lincs, which following the transaction represents almost 16 per cent of Octopus’ portfolio, is located off the east coast of England and has been operational since 2013..
Octopus initially bought a stake in Lincs in May, while another fund managed by Octopus’ asset manager Octopus Energy Generation has acquired a further 7.75 per cent indirect stake.
On the other hand, the German facility – whose construction will be completed by the end of the year – will represent around 8 per cent of Octopus’ portfolio on a gross asset value basis.
“Wind energy is a vital pillar of both the UK and the EU’s energy systems,” said chairman Phil Austin.
“Today’s investment in the Lincs Offshore Wind Farm takes ORIT’s position in this significant operational offshore wind farm asset to 15.5 per cent and our commitment to Leeskow marks our first investment into German onshore wind.”