Octopus Energy Launches £3 Billion Offshore Wind Fund in Asia Ahead of COP31
Octopus Energy unveils a £3 billion offshore wind fund backed by Tokyo Gas to drive renewables investment and energy security at the COP31 climate summit.
POLICY WIRE — London, UK — One of Britain’s most valuable private enterprises is expanding its global footprint by debuting a dedicated renewables fund timed with the COP31 climate summit.
The new vehicle is the Octopus Energy Offshore Wind fund, designed to accelerate the development of offshore wind assets through the company’s generation arm.
Octopus Energy characterized the initiative as a first dedicated offshore wind fund aimed at boosting energy security and reducing global reliance on fossil fuels.
The project has secured a cornerstone investment of £190m ($236m) from Tokyo Gas, the Japanese energy giant.
This move aligns with the broader strategic objectives of Octopus Energy, whose founder Greg Jackson has emerged as a leading voice for renewables investment among British entrepreneurs.
The launch coincides with other significant steps in green energy, including the development of a major battery infrastructure by Octopus Energy and National Grid ESO in Great Britain.
Additionally, Japan’s $1.8 trillion public pension fund has entered into its first direct investment in Australia’s green energy transition with a deal alongside Octopus.
Reporting by Policy-Wire (PW)