Octopus Renewables signs agreements to increase its wind energy portfolio

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LONDON, March 10 (Reuters) – Octopus Renewables, the fund management specialist of Octopus Energy Group, has signed four deals to boost wind power generation in Europe, it said on Thursday.

The agreements will increase Octopus Renewables’ wind generation portfolio by up to 90%, adding up to 690 megawatts (MW) of capacity in Britain, France, Finland and Sweden over the next 10 years, a said the company.

That’s enough to power nearly half a million homes a year, he added.

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Octopus Renewables said it was investing in a joint venture to develop nine onshore wind farms in Britain with Wind 2 Limited, with a combined capacity of around 570MW.

It will buy an onshore wind farm from OX2 in Sweden which will have a capacity of 31.5 MW. In France, it will manage an onshore wind farm in France with a capacity of 14.1 MW.

In Finland, Octopus Renewables acquired 2 onshore wind farms with a combined capacity of 71.4 MW.

Financial details of the deals were not disclosed.

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Reporting by Nina Chestney; Editing by Alison Williams

Our standards: The Thomson Reuters Trust Principles.

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