Octopus Energy unveils 1.2-GW renewables ambition in Germany
Vestas wind turbines in Germany. Image by: Vestas Wind Systems A/S.
UK’s Octopus Energy Group has bought the rights for the construction of a 35-MW wind farm in Germany in what is its first renewable generation deal in the country, where it has huge expansion plans ahead.
The solar and wind energy investor said on Thursday it intends to “quickly ramp up” its generation portfolio in Germany and is already looking for additional sites. Its goal is to build a portfolio of 1.2 GW of wind and solar parks in operation in the country by the end of the decade.
The rights for the 35-MW Gaishecke wind project were acquired from a consortium of LindenProjekt GmbH, FH Beteiligungs GmbH and ISB GmbH. To be installed in Hessen, near Frankfurt, the 10-turbine plant, powered by Vestas hardware, is due to go online by the end of 2023. Its construction is slated to begin in the next few weeks. Once completed, it will produce close to 100,000 MWh of electricity, which would be enough to supply some 40,000 homes annually.
Octopus Energy has been active in the German retail energy market since end-2020. “We’ve been blown away by the response to Octopus in the German retail energy market. This first onshore wind deal is a really significant milestone and it’s just the beginning [..],” said Andrew Mack, CEO of Octopus Energy Germany.
Octopus Energy Generation, part of the Octopus Group, has 3 GW of renewable energy assets under management across Europe. The company aims to have 18 GW of clean energy generation projects globally by 2027.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.