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Octopus Energy Generation Acquires Borssele V Wind Farm in Netherland


Marketline - Deals  

 

    Deal In Brief

    Octopus Energy Generation, a UK-based renewable energy company, has acquired Borssele V wind farm located in Dutch waters, The Netherland from consortium of Van Oord NV, Green Giraffe BV and Investri Offshore BV. The total installed capacity of the farm is 19 MW

    Borssele V was built within a designated innovation site in an area located more than 20 km off the coast of Zeeland. The plant is equipped with two Vestas 9.5 MW turbines that were brought online in 2021 and have a combined annual power production equal to the demand of 25,000 Dutch homes

    Eneco, a Dutch utility company, is operating the wind farm and Vandebron, a Dutch green energy company is the offtaker, supplying the green power generated by the wind farm to customers in the Netherlands. Borssele V is part of the 1,500 MW Borssele wind farm cluster in the North Sea. The plant has submerged slip joint foundation, an alternative connection between foundation elements, a monopile and a transition piece. The slip joint was designed by Van Oord. The company will continue its monitoring for another six years and will also seek to use the solution in larger-scale projects.

    Deal Type Acquisition
    Sub-Category Asset Purchase
    Deal Status Completed: 2022-06-29

    Deal Participants

    Acquirer (Company) Octopus Energy Generation
    Vendor 1 (Company) Van Oord nv
    Vendor 2 (Company) Green Giraffe BV
    Vendor 3 (Company) Investri Offshore BV

    Deal Rationale

    % Acquisition 100%

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