Octopus unit buys 400-MW Aussie wind project from Juwi

May 23 (Renewables Now) - Octopus Investments Australia, part of UK-based Octopus Group, has acquired a 400-MW wind project in New South Wales from German Juwi AG’s local subsidiary.

The deal, the value of which was kept under wraps, was confirmed by Sam Reynolds, managing director of Octopus Australia, in a LinkedIn post on Tuesday.

Juwi Renewable Energy Pty Ltd has offloaded the Hay Plains wind project in the southwestern parts of New South Wales as part of its strategy to focus on providing renewable energy solutions to the mining and resources industry. Octopus, meanwhile, is working to expand the portfolio of its renewable energy platform that it set up last summer to pursue major investments in the wind, solar and battery storage markets in Australia.

“The acquisition marks a major milestone in Octopus Australia’s strategy to build a portfolio of energy assets which model what a future clean energy generation base will look like in Australia,” Reynolds said.

The Hay Plains wind farm will be installed near the town of Hay, within the state’s South West Renewable Energy Zone (REZ). It will join the 333-MW Darlington Point solar complex in the Riverina region of New South Wales, which became the first asset of Octopus' Aussie platform.