Octopus Energy has added more than $2bn of offshore wind investments in two years. Making the announcement at COP29 in Baku, Azerbaijan, the company recommitted to invest $20bn into offshore wind worldwide by 2030.

Offshore wind in the UK is the world’s second largest offshore wind market, with plans to quadruple capacity by 2030.

The company entered the offshore wind farm market in 2022 and now holds stakes in six offshore wind farms in three countries around Europe. This includes one of the world’s largest wind farms, Hornsea One, as well as Lincs and Walney Extension in Britain, two in the Netherlands with turbines as tall as London’s Gherkin building, and one in Germany.

Zoisa North-Bond, CEO of Octopus Energy Generation, said: “We’re strong believers in wind power’s massive role as a cornerstone of energy systems globally. Our ability to invest over $2bn into offshore wind in just two years is the start. Wind can create a greener and cheaper energy system for people around the world. We’re now geared up to unleash billions more into offshore wind projects worldwide.”

---