Octopus buys 149MW wind projects in UK
Octopus Investments has purchased four onshore wind projects in the UK from Blue Energy.
With a total of 149MW, the portfolio includes Blue Energy’s 109MW Beinneun, 21MW Cour, 12.3MW Grange, and 6.9MW Hillhead of Auquhirie windfarms.
Supported by the UK’s Renewables Obligation scheme, the four farms will be developed to provide enough renewable energy to power 125,000 households.
The company has also retained a portfolio of other assets, including interests in the 52MW Blackcraig and 24MW Whiteside Hill farms, as well as a portfolio of other development and consented projects.
Octopus Investments team director Chris Gaydon said: “Alongside the UK’s largest portfolio of solar photovoltaic (PV) and our investments in advanced grid technologies and energy supply, the acquisition of these windfarms marks another major milestone in our ambition to become the industry's leading generator and supplier of clean energy in the UK.”
The latest deal follows an announcement that Octopus closed a £300m institutional fund to invest in UK renewable energy power plants. The company has also recently raised £484m of debt finance for the UK solar assets.
Image: A windfarm. Photo: courtesy of Octopus Capital