UK's Octopus Energy Launches $3.7B Offshore Wind Fund with Tokyo Gas

Sachin Ravikumar
Friday, November 17, 2023

Britain's Octopus Energy said on Friday that its renewables investing arm had launched a dedicated fund with Japan's Tokyo Gas to invest 3 billion pounds ($3.7 billion) in offshore wind projects by 2030.

The Octopus Energy Offshore Wind fund, set up with a 190 million pound cornerstone investment from Tokyo Gas, will invest in offshore wind farms as well as companies creating new offshore wind capacity, with a focus on Europe, Octopus said. 

The fund will look at both traditional offshore wind turbines and floating turbines. "The potential to make a positive impact, boost energy security, and reduce fossil fuels dependence is massive with offshore wind," said Octopus Energy Generation Chief Executive Zoisa North-Bond

Octopus Energy Generation has said it plans to invest $20 billion in offshore wind by 2030, with an aim to boost energy security and reduce dependence on fossil fuels.


($1 = 0.8052 pounds)

(Reuters - Reporting by Sachin Ravikumar/Editing by Mark Potter)

Categories: Renewable Energy Industry News Activity Asia Offshore Wind

Related Stories

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

China Unveils Plans for New Offshore Wind Farms to Tackle Carbon Emissions

MODEC and Samsung Team Up to Install Carbon Capture Tech on FPSO

Sapura Energy Nets $720M from Multiple Drilling Services Contracts

Eco Wave Finds Partner for Wave Energy Project in India

Malaysia's Petronas Plans Job Cuts

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Vestas Lands First 15MW Offshore Wind Turbine Order in Asia Pacific

China’s CNOOC Brings Bohai Sea Oil Field On Stream

Current News

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

Mitigate SCC & HE to Keep Offshore Metal Structures Ship Shape

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Petrovietnam, Petronas Extend PSC for Offshore Block

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com