UK renewable energy provider Octopus Energy has bought a minority stake in the 659MW Walney Extension offshore wind farm.
The UK renewable energy company bought a 12.5% stake in the offshore wind project from AIP Management, the Copenhagen-based investment manager for Danish pension funds PKA and PFA.
Octopus said the purchase marked the sixth offshore wind project the company had invested in since 2022 after buying stakes in various other projects, including a 10% stake in the 731.5MW Borselle III and IV wind farm in the Dutch North Sea, and a 15.5% stake in the 270MW Lincs wind farm off the coast of Lincolnshire in the UK.
The latest purchase follows Octopus’s announcement of a £3 billion (€3.5 billion) offshore wind fund with Japanese utility Tokyo Gas earlier this month.
The Walney Extension wind project came online in 2018 and is split between the 329MW Walney Extension East and 330MW Walney Extension West wind farms, located around 19km from shore off the coast of Walney Island in the Irish Sea, west of Cumbria.
Both wind farms were developed by Danish utility Ørsted, which owns 50% stakes in them.
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