Posted on November 20, 2023
Britain’s Octopus Energy said on Friday its renewables investing arm had launched a dedicated fund with Japan’s Tokyo Gas (9531.T) to invest 3 billion pounds ($3.7 billion) in offshore wind projects by 2030.
The Octopus Energy Offshore Wind fund, set up with a 190 million pound cornerstone investment from Tokyo Gas, will invest in offshore wind farms as well as companies creating new offshore wind capacity, with a focus on Europe, Octopus said.
The fund will look at both traditional offshore wind turbines and floating turbines.
“The potential to make a positive impact, boost energy security and reduce fossil fuels dependence is massive with offshore wind,” said Octopus Energy Generation Chief Executive Zoisa North-Bond.
Britain’s Chancellor of the Exchequer Rishi Sunak speaks with members of staff (not pictured) as he visits the headquarters of Octopus Energy, in London, Britain October 5, 2020.
Octopus Energy Generation has said it plans to invest $20 billion in offshore wind by 2030, with an aim to boost energy security and reduce dependence on fossil fuels.
($1 = 0.8052 pounds)
