Britain's Octopus Energy buys 10% stake in Dutch offshore wind farm

Britain's Octopus Energy has acquired a 10% stake in the Borssele III & IV offshore wind farm in the Dutch North Sea for an undisclosed sum, part of a wider $20 billion offshore wind investment plan, the company said on Tuesday.Reporting by Nora Buli, Editing by Louise Heavens

The wind farm, with an installed capacity of 732 megawatts (MW), has been operational since 2021 and generates enough power each year to cover the demand of around 825,000 Dutch households, Octopus Energy said.

Octopus' generation arm acquired the stake from private markets firm Partners Group.

The British company already owns the 19 MW Borssele V offshore wind farm in the Netherlands.

The latest acquisition also follows an announcement earlier this month for an investment in Norway-based offshore wind developer Deep Wind Offshore.