Octopus Energy invests in floating wind specialist Ocergy

The generation arm of Britain's Octopus Energy has invested in Ocergy, a US-based company with operations in France which specialises in the design and production of foundations for floating offshore wind.

The investment, of unspecified amount, is made on behalf of Vector, Octopus Energy’s offshore wind fund launched at the end of 2023. It is expected to help commercialise Ocergy’s technology and support the company’s expansion into new markets.

According to the announcement, Ocergy is using a “hyper-local” supply chain approach, working with local manufacturers, and is creating further efficiencies through its lighter and modular designs. The company is already partnering with major developers and its first foundations are scheduled to be installed by 2025/2026.

“Ocergy’s groundbreaking approach has the power to slash the costs of floating offshore wind – and with our investment they will get there faster, paving the way for cleaner, greener energy systems across the globe,” said Octopus Energy Generation chief executive Zoisa North-Bond.

Dominique Roddier, CEO of Ocergy, said the collaboration with Octopus Energy Generation will empower the company to scale up its operations and concentrate on delivering both pre-commercial and large-scale floating offshore wind projects.

Choose your newsletter by Renewables Now. Join for free!