A UK-based energy supplier that counts former U.S. Vice President Al Gore among its investors announced it would pour about $20 billion into offshore wind projects by 2030.
Octopus Energy Group on July 24 said the investment would come through its generation division. The company said it envisions building 12 GW of offshore wind capacity worldwide, particularly in Europe, over the next few years.
The company in a news release said it would support developers of new offshore wind farms in addition to investing in projects already operating or under construction. Gore’s Generation Investment Management, a private equity group focused on renewable and sustainable energy projects, in 2021 announced a $600 million investment in Octopus.
