Operational since 2021, the 732MW Borssele wind farm comprises 77 turbines with 9.5MW capacity each and generates adequate renewable electricity to power nearly 825,000 households in the Netherlands each year
The Borssele offshore wind farm project. (Credit: Octopus Energy Ltd)
UK-based renewable energy company Octopus Energy, through its power generation arm, is investing in the 732MW Borssele 3 & 4 wind farm located in the Dutch North Sea.
The Borssele wind farm, which is said to be one of the largest in continental Europe, comprises 77 turbines with 9.5MW capacity each.
It has been operational since 2021 and generates adequate renewable electricity to power nearly 825,000 households in the Netherlands each year.
The investment is part of Octopus Energy’s strategy to increase its global offshore wind activity and follows its recent announcement of a $20bn investment in offshore wind worldwide.
Last week, Octopus invested in Deep Wind Offshore, an offshore wind developer with projects in Norway, Sweden and South Korea.
Octopus Energy Generation fund management team co-head Alex Brierley said: “Investing in one of Europe’s largest wind farms in the Netherlands is a really exciting milestone as we only entered the Dutch renewables market last year.
“We’ve got big ambitions to supercharge the green energy transition globally. Offshore wind farms like these are boosting energy security and creating a more sustainable energy system for everyone.”
Established in 2010, Octopus Energy Generation is said to be one of the largest renewables and energy transition investors in Europe and has a fund management specialist team.
The fund management specialist team manages 3.2GW of renewable energy projects such as wind and solar farms across 15 countries, worth £6bn.
Octopus Energy Generation has purchased a 10% stake in the Borssele wind farm from Partners Group, a global private markets firm acting on behalf of its clients.
The company entered the Dutch renewable energy market last year, with the acquisition of the Borssele 5 offshore wind farm, which is also a part of the Borssele wind farm zone.
The Netherlands marks Europe’s third largest offshore wind market after the UK and Germany. Its government aims to achieve 70GW offshore wind capacity by 2050.