Octopus Energy Generation has made its first investment in a large offshore wind farm in the United Kingdom.
The firm has acquired an 8 percent stake in the 270-megawattLincs offshore wind farm, located off the coast of Skegness in the East of England. The asset, which has been operational since 2013, is made up of 75 wind turbines across 35 square kilometers (13.5 square miles), and is operated by global renewable energy developer Ørsted.
The wind farm generates enough energy to power 240,000 U.K. homes per year, the equivalent of removing 200,000 cars from the road and avoiding more than 350,000 tons of carbon emissions each year.
“We’re extremely excited to make our first green waves in offshore wind energy — a key pillar of the U.K.’s renewable energy mix,” said Zoisa North-Bond, CEO of Octopus Energy Generation. “The U.K. has tremendous offshore wind resources. By backing a large offshore wind farm as well as developing floating offshore wind p
