Octopus Energy partners with Skyborn to enter France's offshore wind market

• The French government has selected a new joint venture between Octopus and Skyborn to bid in next year’s offshore wind tender
• Marks Octopus’ entry into offshore wind tenders, expanding its sector footprint
• Comes as Octopus surpasses $2bn offshore wind investment milestone

London, Tuesday 19th November 2024 – Octopus Energy’s generation arm, in partnership with Skyborn Renewables (Skyborn), has been selected by the French government to enter the country’s next offshore wind tender.

The French government’s decision follows a rigorous pre-qualification process to choose the best companies to enter its ninth offshore wind tender round. Winners are expected to be announced in late 2025.

Skyborn is an accomplished offshore wind developer and operator with more than 20 years experience and capabilities covering the entire offshore wind value chain.

In France, Skyborn, in partnership with EDF Renewables, EIH S.à. r.l, a subsidiary of Enbridge Inc. and Canada Pension Plan Investment Board (CPP Investments), successfully commissioned the 500 MW Fécamp wind farm earlier this year. The company also has another offshore wind project under construction in the country.

The move marks Octopus’ first foray into early-stage offshore wind tenders globally, as it expands its footprint in the sector. Octopus started investing in offshore wind farms in 2022 and has since backed six wind farms across the UK, Netherlands and Germany.

Last year it launched its landmark Offshore Wind Fund, Vector, to rapidly scale this technology. Through this fund, it invested in Ocergy – a tech disruptor with operations in France – which is innovating in the floating offshore wind space.

In just two years, Octopus has invested $2 billion in offshore wind globally and is planning to unleash $20 billion into this sector by 2030.

With around 1 GW of installed capacity, France’s offshore wind market is still relatively small. However, the market has huge untapped potential, with the government targeting 18 GW by 2035 and 45 GW by 2050*.

Zoisa North-Bond, CEO of Octopus Energy Generation, said: “Offshore wind will undoubtedly play an integral role in France’s energy system, harnessing strong winds to generate more clean power. This exciting partnership with Skyborn is a game-changer, marking the first time Octopus will enter an offshore wind tender globally, and potentially adding a new country to our offshore wind roster.”

Guillain Chapelon, Managing Director of Skyborn France, said: “We are delighted to be officially prequalified for the ninth offshore wind tender in France. Our unprecedented partnership with Octopus Energy Generation will enable us to offer a robust project, meeting the needs of all stakeholders involved.”

Octopus has been investing in France’s clean energy market for several years, with over 360 MW of wind and solar projects – its largest generation market in continental Europe.

Octopus Energy Group is also an energy supplier in France, with ambitions to have 1 million customers by 2030. It recently launched its trailblazing ‘Fan Club’ for French customers living near a wind farm in Nantes, enabling discounted electricity when the wind is blowing.

ENDS

Notes to editors:

*WindEurope

Press Contacts

Octopus Energy Group

Amy Boekstein

Senior PR Manager

press@octoenergy.com

+44 (0)20 4530 8369

About Skyborn Renewables

Skyborn is an accomplished offshore wind developer and operator with more than 20 years’

experience, headquartered in Germany. The company’s capabilities cover the entire offshore wind

value chain, including greenfield development, project engineering and design, procurement,

financing, corporate power purchase agreements, construction management and asset management.

Skyborn is a portfolio company of Global Infrastructure Partners (GIP), a leading infrastructure

investor headquartered in New York, USA. For more information, visit www.skybornrenewables.com

About Octopus Energy Generation

Octopus Energy Generation is driving the renewable energy agenda and building green power for the future. It is reshaping the market by leading the transition to a cleaner, greener future through renewable projects connected more deeply to customers and businesses. As one of Europe’s largest specialist renewables investors, it manages 3.7 GW of green energy projects like wind and solar farms in over 15 countries, worth £7bn ($9bn). These generate enough green power for 2.4 million homes every year - the equivalent of taking over 1 million petrol cars off the road.

Octopus comes up with innovative tech-enabled products to change ingrained thinking about energy, positively influence the net zero economy and deliver cheaper energy for customers. This includes the ‘Fan Club’, a world-first tariff providing discounted energy to people living near wind turbines when it's windy, which has seen 36,000+ requests for local wind turbines, and Winder (Tinder for Wind), Octopus’ tech platform to speed up new turbines development driven by community demand. For more information, check out our website.

About Octopus Energy Group

Octopus Energy is a global clean energy tech business, driving the affordable, green energy system of the future. Under its own retail brand, Octopus delivers world-class customer service and cutting edge energy products to 8 million households globally. Its operations span 18 countries and the entire energy value chain. The group invests in, builds and flexibly manages renewable energy, operating a £7 billion portfolio of projects.

Octopus has licensed its advanced data and machine learning platform, Kraken, to support over 54 million customer accounts worldwide through licensing deals with companies such as EDF, E.ON and Origin Energy. Kraken enables Octopus to drive the electrification of heat and transport through smart tariffs and innovative cleantech. Backed by pension funds, investors and energy giants, Octopus Energy Group businesses deliver cheaper, greener energy and cutting-edge tech to countries and customers worldwide.

For more information, check out our website