Octopus Energy Generation has expanded its European renewables footprint by investing €584m to acquire 321MW of onshore wind assets in France, Germany and Poland in separate deals.
The deals involve the acquisition of 143.5MW of French onshore wind farms at various operational and construction stages located across 10 sites in Hauts-de-France, Grand Est, Bourgogne-Franche-Comté, Brittany, Centre-Val de Loire and Nouvelle-Aquitaine.
In Germany, Octopus has acquired four wind farms with a combined capacity of 102.5MW across Lower Saxony, Brandenburg, Hesse and Baden-Württemberg, consisting of two operational sites and two currently under construction.
In the north of Poland, Octopus has acquired three operational wind farms with a combined capacity of 75MW from the KGAL renewable energy fund KGAL ESPF 4. The deal also provides access to a pipeline of new renewable projects currently in development.
The addition of the 17 onshore wind farms acquired for the Sky fund has expanded the Octopus European portfolio to 67 sites across the UK, France, Germany, Poland, Ireland, Sweden and Finland.
Zoisa North-Bond, CEO at Octopus Energy Generation, said: “Europe has one of the greatest wind resources in the world. With major ambitions to build more wind farms, we’re still only scratching the surface of what’s possible. We now need to move even faster if we’re going to unlock untapped wind power potential and meet Europe’s clean energy needs.
“From France to Germany and Poland, these latest projects are part of a wider shift away from polluting fossil fuels and towards homegrown, affordable, clean power.
“Amid volatile gas prices and rising geopolitical risk from wars in recent years, countries are quite rightly turning to clean energy. Decentralised renewables like onshore wind offer a faster and more secure path to energy independence and security.”
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