Octopus Energy, Nest and GLIL to invest £400m in Hornsea

Octopus Energy and Nest will take a stake in the Hornsea One Wind Farm, the world’s largest operational offshore wind farm.

Octopus Energy Generation’s fund management team invested £200m in Hornsea One on behalf of Nest, one of the UK’s largest pension schemes representing a third of the UK workforce. Through a joint venture with GLIL Infrastructure, a £3.6bn fund investing in infrastructure on behalf of pension funds, who are also investing £200m, together they’ve acquired a 12.5 per cent stake from Global Infrastructure Partners for a total of £400m.

The 1.2GW Hornsea One wind farm is off the Yorkshire coast, with 174 wind turbines operated by Ørsted, and has been operational since 2020.

Octopus entered the offshore wind sector recently and this deal marks its third, following investments in Lincs Offshore Wind Farm in England on behalf of Octopus Renewables Infrastructure Trust (ORIT), the Borssele V Offshore Wind Farm in the Netherlands, and in floating offshore wind developer Simply Blue.

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