Octopus Energy has taken a significant step into Germany’s offshore wind market with its first investment in the Butendiek wind farm.
The company’s generation arm secured a 5% stake in the 80-turbine offshore facility, located 32 kilometres west of the island of Sylt in the North Sea.
The Butendiek wind farm, operational since 2015, boasts a capacity of 288MW, generating power for approximately 370,000 homes.
This move follows Octopus Energy’s ambitious commitment to invest more than €1 billion (£870m) in green energy and infrastructure in Germany by 2030.
The company entered the German renewable market just over a year ago, with four onshore wind farm investments, collectively providing power for 100,000 homes.
Zoisa North-Bond, Chief Executive Officer of Octopus Energy Generation, said: “The prospects for offshore wind globally are incredibly promising. The more projects we realise, the faster we will see energy bills come down and end our reliance on dirty fossil fuels.
“Germany is a global trailblazer in offshore wind and en route to becoming Europe’s largest offshore wind market.”
