Octopus, Nest Form JV with GLIL to Invest £400M in World’s Largest Offshore Wind Farm
- Aug 7, 2022 5:25 pm GMT
Octopus Energy Group’s generation business, one of Europe’s largest investors in renewable energy, has worked with Nest to take a stake in the
Octopus Energy Generation’s fund management team invested £200m in Hornsea One on behalf of Nest, one of the UK’s largest pension schemes representing a third of the
The 1.2 GW Hornsea One wind farm is off the
Offshore wind is a pillar of many European energy security strategies - and the
Octopus entered the offshore wind sector recently and this deal marks its third, with more in the pipeline. It follows investments in
Octopus and Nest have worked together since last year when Nest appointed the entech business to help it invest billions in green energy on behalf of Nest’s 11 million pension savers. They’re expanding the relationship with this milestone offshore wind deal.
Zoisa North-Bond, CEO of Octopus Energy Generation, comments: “The
Stephen O’Neill, Nest’s Head of Private Markets: “Renewable energy sources have huge potential for long-term investors like Nest. Its desirability should only increase in the coming years and as the
Our investment will not only support the UK’s energy transition and net-zero ambitions, and continue our track record in the renewable energy sector, it will also generate sustainable, long-term returns for millions of pension fund members. We’re now looking forward to working with Octopus Energy Generation on this joint venture and the team at Ørsted.”
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