Octopus Renewables has acquired two operational wind farms in the UK from a group of developers, media reports said. Octopus Renewables has purchased the Muirhall South project in South Lanarkshire and Burton Wold South site in Northamptonshire. The projects have a total capacity of 16.8MW.
Octopus Renewables investment director Peter Dias, told the media, “This acquisition adds to our ever-expanding onshore wind portfolio that has seen us become a market leader in the technology. REIP III is also a great example of our ability to unblock further institutional investment in renewables by creating bespoke portfolios of assets for investors. This is important as increased institutional investment in renewables will be vital if the UK is to reach its target of net zero by 2050.”
In March, Octopus Renewables made its first investment with the acquisition of Ljungbyholm wind farm in Sweden. The wind farm has a capacity of 48 MW, media reports said. The construction-ready project was developed by OX2.
Octopus Renewables has already raised proceeds of £350 million in its initial public offering, media reports said. The company listed its shares on the London Stock Exchange last December.
Also, it acquired eight fully operational solar PV farms across the UK for more than £144 million, media reports said.