Offshore staff
HAUGESUND, Norway – Octopus Energy has agreed to acquire an interest in Deep Wind Offshore alongside existing owners Knutsen OAS, Haugaland Kraft and Sunnhordland Kraftlag.
Deep Wind Offshore, formed in 2021, is an offshore wind developer working on projects in Norway, Sweden and South Korea. It aims to develop 10 GW of new offshore wind by 2032, with 2 GW through an exclusive development in South Korea.
The company has formed partnerships with bp and EDF Renewables. Deep Wind Offshore and EDF Renewables are jointly working on a proposal for a 500-MW floating offshore wind farm at Utsira Nord in the Norwegian North Sea comprising about 30 floating wind turbines, 15 km offshore the coast of west Utsira.
All will be connected to the seabed with mooring lines and anchors in waters 250 m to 270 m.
With Octopus' backing, the company aims to develop more fixed and floating offshore wind farms and enter new markets. Much of Octopus’s managed funds comes from large UK pension funds and institutional investors.
Octopus has plans to allocate $20 billion for offshore wind globally. The deal with Deep Wind Offshore marks its entry into Norway and South Korea's renewable sectors and increases its project portfolio to 15 countries.
At present, Octopus already has shares in the Lincs and Hornsea One wind farms offshore eastern England and Borselle V in the Dutch North Sea. It is also investing in floating offshore wind developer Simply Blue.
09.07.2023
