Octopus Energy has bought a 12.5% stake in the Walney Extension wind farm from AIP Management
Octopus Energy has bought a 12.5 per cent stake in a wind farm in the Irish Sea from a group of Danish pension funds.
The energy company bought the stake in Walney Extension from AIP Management, the investment manager for Danish pension funds PKA and PFA.
Walney Extension is operated by Denmark’s Orsted, which holds a 50 per cent stake. The wind farm – which is nine miles west of Walney Island off the coast of Cumbria, has been operational since 2018 – producing enough power for nearly 600,000 homes.
The investment was made through the £3billion Octopus Energy Offshore Wind fund the company launched this month.
Octopus already holds stakes in British offshore wind farms Hornsea One and Lincs.
It is also expanding its global investments in the technology globally with deals in Europe and Asia.
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