Britain's Octopus Energy Group has bought the rights to build a 35-megawatt wind farm in Germany, its first renewable energy generation deal in the country, and the company has huge future expansion plans.
The solar and wind investor said it intends to "rapidly increase" its generation portfolio in Germany and is already looking for more locations. The goal is to have a 1.2GW portfolio of wind and solar parks in the country by the end of the century.
The rights to the 35 MW Gaishecke wind power project were acquired from a consortium of LindenProjekt GmbH, FH Beteiligungs GmbH and ISB GmbH. To be installed in Hesse near Frankfurt, the 10-turbine plant powered by Vestas hardware will come online by the end of 2023. Its construction is scheduled to begin in the next few weeks. Once built, it will generate nearly 100,000 MWh of electricity, enough to power about 40,000 homes annually.
Octopus Energy Generation, part of the Octopus Group, manages 3GW of renewable energy assets in Europe. The company aims to have 18GW of clean energy generation projects worldwide by 2027.
