Octopus Renewables, the specialist clean energy investor arm of Octopus Group, has acquired two UK operational ROC accredited onshore wind farms with a combined capacity of 16.8MW.
The acquisition marks the first deployment from the Renewable Energy Income Partnership III (REIP III), a £185 million institutional mandate announced earlier this year that is closed for further investment.
The two wind farms, located in South Lanarkshire and Northamptonshire, provide the equivalent energy to power more than 17,000 UK homes, or the equivalent saving of CO2 to removing close to 50,000 petrol or diesel cars from the road. The wind farms were purchased from a conglomerate of sellers made up of Muirhall Energy with WWS Renewables, and Infinergy. The South Lanarkshire wind farm was acquired from Muirhall Energy, WWS Renewables and a private investor and the Northamptonshire wind farm was acquired from Muirhall Energy, WWS Renewables and Infinergy.
Over the last decade, Octopus Renewables has grown to become one of Europe’s major investors in renewables, managing more than £3 billion in renewable energy assets. Octopus is the largest commercial solar energy investor in Europe, as well as a leading UK investor in onshore wind and biomass.
Peter Dias, Investment Director at Octopus Renewables, said:
“This acquisition adds to our ever-expanding onshore wind portfolio that has seen us become a market leader in the technology. REIP III is also a great example of our ability to unblock further institutional investment in renewables by creating bespoke portfolios of assets for investors. This is important as increased institutional investment in renewables will be vital if the UK is to reach its target of net zero by 2050.”
Tjiwolt Wierda, Director at Infinergy, said:
“We are delighted to have achieved this deal with such renowned renewable energy investors, which is testament to the hard work our combined teams have put in to deliver a high-quality renewable energy asset. Burton Wold Wind Farm South is only at the beginning of its operational life and will be generating zero-carbon electricity for many years to come, contributing to the world-wide transition to renewable sources of energy.”
Chris Walker, Managing Director of Muirhall Energy, said:
“Building a relationship with Octopus Renewables to complete the asset sale has been a positive experience. With over 300MW of consented sites to build out over the next 24 months, and more than 1GW in development, Muirhall Energy and WWS Renewables have an exciting time ahead. The funds achieved by this sale will help us realise those renewable energy opportunities, extend our commitment to the communities in which we work, and contribute to reaching the green energy targets set by the Scottish and Westminster Governments.”
Sam Salehi / Sam Ferris
+44 (0)20 3142 4933
About Octopus Renewables
Octopus Renewables, part of Octopus Group, is a specialist clean energy investor and our mission is to accelerate the transition to a future powered by renewable energy. We have a diverse portfolio of assets with a capacity of over 2.6GW, making us the largest commercial solar investor in Europe and a leading UK investor in onshore wind. Octopus is also leading the next wave of renewables being built across Europe and Australia without government subsidies. We believe there is a significant opportunity to unblock much needed investment by building bespoke portfolios of renewable assets at scale, across technologies and countries, to create better outcomes for our investors.
About Octopus Group
Octopus is a group of innovative, entrepreneurial businesses investing in the people, ideas and industries that will help to change the world. We are experts in financial services and energy, and we care as much about the impact our investments as the returns they generate. Today we manage more than £8.6* billion on behalf of retail and institutional investors. Our energy supply business is one of the fastest growing companies in the UK, reaching 1.5 million customers in just four years, and is the only supplier to be recommended by Which? three years in a row.
Octopus Energy, Octopus Investments, Octopus Renewables, Octopus Real Estate, Octopus Ventures, Octopus Wealth and Seccl Technology are all part of Octopus Group. Visit octopusgroup.com.
*Includes funds under advisory mandates and the Octopus Cash service as of 31st March 2020.
For journalists in their professional capacity only. Personal opinions may change and should not be seen as advice or a recommendation. Octopus Renewables is a trading name of Octopus Investments, which is authorised and regulated by the Financial Conduct Authority.
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