The Ireland Strategic Investment Fund (ISIF) has committed £80 million ($98.5 million) to Octopus Energy Generation’s Sky fund, pushing the Sky fund to more than £1 billion ($1.23 billion) of raised capital.
Managed by Octopus Energy, the Sky fund is seeking to raise £3 billion ($3.69 billion) by 2025 and is investing in a diversified portfolio of energy transition projects that help to accelerate the energy transition.
ISIF is a sovereign development fund that invests with a goal to support economic activity and employment in Ireland. The sovereign development fund has a €1 billion ($1.07 billion) climate investment program, and to date it has committed more than €500 million ($534.7 million) from that program toward climate-related investment opportunities.
Octopus Energy Generation has announced as well that it will open an office in Dublin in the coming months as it seeks to locally scale its green energy projects.
“Given the urgency of cli