Octopus Energy has announced that its renewables investment arm, Octopus Energy Generation, has acquired a 10% stake in East Anglia One, one of the world’s largest operational offshore wind farms. Located 43 kilometres off the coast of eastern England, the 714 MW facility powers approximately 700,000 homes annually through its 102 turbines.
The value of the transaction has not been disclosed. The stake was purchased from Macquarie Asset Management on behalf of Vector, Octopus’ dedicated offshore wind fund. Vector backs both fixed and floating offshore wind developments as well as pioneering technologies aimed at reducing generation costs.
This marks Octopus Energy Generation’s fourth investment in a UK offshore wind project and its seventh across Europe. The company currently manages a renewables portfolio worth £5 billion, encompassing around 1.7 gigawatts of capacity in Britain, and is expanding its footprint across markets including Germany and the United States.
Zoisa North-Bond, CEO of Octopus Energy Generation, commented: “Britain is blessed with strong winds and long coastlines – perfect conditions for offshore wind. The sector has become a vital pillar of our energy system, and this investment will help to turbocharge this clean technology further, bringing cheaper, greener power to people across the country.”
In addition to this acquisition, Octopus plans to take part in France’s upcoming offshore wind tender and is partnering with Skyborn Renewables to develop a new offshore wind farm, underscoring its growing international ambitions.
The move comes as the UK government continues to push for a major expansion in renewable energy capacity. The lifting of restrictions on onshore wind development in England last year, coupled with a commitment to fully decarbonise the electricity grid by 2030, is helping to unlock stalled infrastructure and accelerate the transition to clean power.
