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Octopus Renewables signs deals to increase wind power portfolio

By Reuters

LONDON – Octopus Renewables, the fund management specialist of Octopus Energy Group, has signed four deals to increase wind power generation across Europe, it said on Thursday.

The deals will increase Octopus Renewables’ wind generation portfolio by up to 90%, adding up to 690 megawatts (MW) of capacity in Britain, France, Finland and Sweden over the next 10 years, the firm said.

This is enough to power nearly half a million homes a year, it added.

Octopus Renewables said it was investing in a joint venture to develop nine onshore wind farms in Britain with Wind 2 Limited, with combined capacity of around 570 MW.

It will buy an onshore wind farm from OX2 in Sweden which will have a capacity of 31.5 MW. In France, it will manage an onshore wind farm in France with a capacity of 14.1 MW.

In Finland, Octopus Renewables has acquired 2 onshore wind farms with a combined capacity of 71.4 MW.

Financial details of the deals were not disclosed.