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Octopus Energy Enters France’s Offshore Wind Market With New Joint Venture

2024-11-21 11:33

Wedoany.com Report-Nov 21, Octopus Energy, through its generation arm, has entered into a joint venture with Skyborn Renewables to participate in France’s next offshore wind tender.

The French government’s decision comes after a thorough pre-qualification process, with winners expected to be announced in late 2025.

Skyborn is an offshore wind developer, having commissioned the 500 MW Fécamp wind farm in France earlier this year, and it is currently constructing another offshore project in the country.

The partnership with Octopus marks a significant step, expanding Octopus’ footprint in the offshore wind sector, as it prepares to enter early-stage offshore wind tenders globally for the first time.

Octopus Energy has already been investing in offshore wind since 2022, with six projects in the UK, Netherlands, and Germany, and a significant $2 billion (£1.5bn) already invested globally.

With this partnership, Octopus looks to further its ambition to inject $20 billion (£15.7bn) into offshore wind by 2030.

France, which currently has around 1 GW of offshore wind capacity, is targeting 18GW by 2035 and 45GW by 2050, offering significant growth potential in the sector.

Europe France Wind Power

France / Octopus Energy / Offshore Wind

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