Octopus Energy Group’s generation business has worked with Nest to take a stake in the Hornsea One Wind Farm, one of the world’s largest operational offshore wind farms.
The energy giant’s fund management team invested £200m in Hornsea One on behalf of Nest, one of the UK’s largest pension schemes, representing a third of the UK workforce. Through a joint venture with GLIL Infrastructure, which is also investing £200m, the deal represents the acquisition of a 12.5% stake from Global Infrastructure Partners for a total of £400m.
Based off the Yorkshire coast, the 1.2 GW Hornsea One wind farm , which is operated by Ørsted, is harnessing the UK’s wind resources to generate green power for over a million homes, through 174 wind turbines measuring 190m tall. Energy supplier Octopus entered the offshore wind sector recently and this deal marks its third, with more in the pipeline.
