Octopus Energy Generation backs Deep Wind Offshore
Investors - SEPTEMBER 11, 2023

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Octopus Energy Generation backs Deep Wind Offshore

by Kali Persall

Octopus Energy Generation has invested in Deep Wind Offshore, an international offshore wind developer with a pipeline of projects in Norway, Sweden and South Korea — countries with vast wind resources and strong governmental support for offshore wind.

Founded in Norway, Deep Wind Offshore is backed by Norwegian shipping and energy companies Knutsen OAS, Haugaland Kraft and Sunnhordland Kraftlag. Since its launch in January 2021, it has grown rapidly across the globe and entered joint ventures with energy majors such as EDF Renewables and bp.

Octopus’s investment will accelerate Deep Wind Offshore’s growth and help develop the company’s pipeline of fixed and floating offshore wind farms, potentially also funding projects in other markets.

Octopus Energy recently announced plans to invest $20 billion in offshore wind globally and build 10 gigawatts of new offshore wind by 2032 — of which 2 gigawatts will exclusively be developed in South Korea. This dea

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