Octopus Renewables, the fund management specialist in Octopus Energy Group’s generation business, has signed four deals to increase wind power generation across. The investments, all signed in the last three months, will see wind farms in the UK, Sweden, France and Finland provide a combined capacity of up to 690MW.
In the UK, Octopus Renewables is investing in a joint venture to develop nine onshore wind farms with Wind 2, a UK wind farm developer. The new wind farms will be developed across Scotland and Wales over the next 5 to 10 years, with a potential combined capacity of approximately 570 MW.
The business is expanding its footprint in Sweden with a third deal in the country, buying a ready to build onshore wind farm in Marhult, outside Växjö, from OX2. The Marhult wind farm will have a total capacity of 31.5MW capacity and consist of seven Vestas V150-4.5 MW turbines. Deliveries at Marhult are expected to begin in the second quarter of 2023 and The turbines are planned to be commissioned by the end of 2023.
Octopus Renewables will now be managing the French onshore wind farm, Broons / Biterne-Sud in north-east Brittany, after a deal with Energiequelle (Germany). The wind farm has six Enercon turbines with a capacity of 14.1MW. This project has a government-backed Contract for Difference (CfD) for a 20-year period.
In the final investment, Octopus Renewables has acquired two onshore wind farms in Finland. The Saunamaa and Suolakangas wind farms have a combined capacity of 71.4MW. These wind farms have a five-year Power Purchase Agreement (PPA) with Baltic energy company Eesti Energia.