Octopus Energy divests minority stake to Generation Investment Management
Octopus Energy Group has announced a major strategic partnership with Generation Investment Management, a firm established in 2004 to back businesses driving sustainability and the fight against climate change, in a deal valued at US$4 billion pre-deal, and up to US$4.6 billion post-deal.
The agreement involves the acquisition of a 13% stake, which is worth US$600 million. Octopus will use the proceeds of Generation’s strategic investment to boost its mission to drive the renewable revolution globally.
Octopus, which was founded in 2016, provides energy to 17 million accounts globally, through its own retail businesses plus licensing agreements with Good Energy, Hanwha Corporation, Origin Energy, nPower, and E.ON.
Country updates
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October 12, 2021
Greencoat commissions 45 MW Douglas West wind project in Lanark
Greencoat UK Wind has commissioned the 45 MW Douglas West wind farm in Scotland. It is the company's first subsidy-free asset in its portfolio. Douglas West, located southwest of Lanark, features 13...
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October 11, 2021
GIG, TotalEnergies, RIDG bid for 2 GW West of Orkney Windfarm
A consortium of Macquarie’s Green Investment Group, TotalEnergies, and Scottish developer RIDG has announced its bid for an offshore wind project west of the Orkney Islands, UK. The proposed 2 G...
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October 06, 2021
Statkraft reduces number of turbines for wind project in Shetland
Statkraft AS has submitted its revised design for the proposed wind farm project in the Shetland Islands to the Scottish Government, UK. The latest revision has the fewer amount of turbine...
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October 05, 2021
SSE Renewables combines Berwick Bank and Marr Bank offshore wind into one 4.1 GW project
SSE Renewables, a unit of energy company SSE Plc, has combined its Berwick Back and Marr Bank offshore wind projects, formerly called Seagreen 2 and 3, into one mega project- Berwick Bank Wind Farm. T...
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October 05, 2021
Ofgem prepares Rampion Offshore Transmission project for financial close
UK energy regulator Ofgem has published a notice under Section 8A of the UK Electricity Act 1989 on September 28, 2021, relating to the development of the Rampion Offshore Transmission project (O...
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