Octopus Energy announced on Friday that its renewables investing arm and Japan’s Tokyo Gas had launched a dedicated fund, which is expected to invest GBP 3 billion in offshore wind projects by the end of the decade.
The Octopus Energy Offshore Wind fund will invest in offshore wind farms and in businesses that create new offshore wind capacity, while its focus will be on Europe.
Established with a GBP 190 million cornerstone investment from Tokyo Gas, 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,” Octopus Energy Generation Chief Executive Officer Zoisa North-Bond was quoted as saying by Reuters.
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