– Octopus Energy’s generation arm has invested in Ocergy to make floating offshore wind farms cheaper and faster to build.
– Ocergy is disrupting the floating offshore wind market with innovative designs and local manufacturing partnerships.
– The investment will help Ocergy commercialize its technology, expand into new markets, and support global efforts to increase offshore wind capacity.
Octopus Energy’s generation arm has made an investment in Ocergy, a company that is revolutionizing the floating offshore wind market with their innovative approach to designing and manufacturing floating foundations. By utilizing a hyper-local supply chain and lighter, modular designs, Ocergy is able to reduce the time and cost of building offshore wind farms. This investment by Octopus Energy will help Ocergy commercialize its technology, expand into new markets, and grow its environmental data and biodiversity monitoring system.
Floating offshore wind farms are becoming increasingly important, especially in areas with coastlines that are too deep for fixed seabed foundations. Around 80% of global offshore wind resources are located in deep waters, emphasizing the untapped potential of floating offshore wind technology. Governments worldwide are setting ambitious targets for floating offshore wind capacity, with the UK alone aiming for 5 GW by 2030.
Both Octopus Energy and Ocergy are focused on accelerating the progress towards cleaner, greener energy systems. The collaboration between the two companies is expected to boost the bankability of Ocergy’s projects and lead to significant advancements in the floating offshore wind industry. This investment signifies a step towards a more sustainable and reliable energy future for the global renewable industry.