Project Manager News Hubb
Advertisement Banner
  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact
No Result
View All Result
  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Project Management

Octopus Energy Plans Rapid Increase In Offshore Wind Spending

admin by admin
February 27, 2023
in Project Management


Renewables investor Octopus Energy Generation plans a rapid increase in investment in offshore wind power after spending $1 billion in less than a year.

The firm, part of Octopus Energy Group, said it has raised its stake in the 270 megawatt Lincs offshore wind farm off the east coast of England to 31% from 23.25%.

The Lincs wind farm comprises 75 wind turbines generating enough clean power for 240,000 UK homes every year. It has been running since 2013 and is operated by Ørsted.

Since entering the sector last year, Octopus Energy Generation has invested $1 billion in offshore wind. It said more investments are to come without specifying how much it planned to spend.

Britain has 11 GW of offshore wind capacity and the government plans to speed up planning approvals for offshore wind farms.

“There’s still huge untapped potential and strong investment appetite to scale this technology further to reduce our reliance on expensive fossil fuels,” said Alex Brierley, co-head of Octopus Energy Generation’s fund management team.

Reporting by Nina Chestney; editing by Barbara Lewis)



Source link

Previous Post

Britain’s V&A Museum Secures David Bowie Archive, Will Make Public In 2025

Next Post

10 Free Product Management Templates for Excel, Word and More

Next Post

10 Free Product Management Templates for Excel, Word and More

Recommended

Netflix’s Forecast In Focus As Streaming Pioneer Set To Launch Ad-Supported Tier

5 months ago

How To Create a Project Roadmap? A Step-by-Step Guide · Blog · ActiveCollab

5 months ago

Citroën Invents Cardboard Car For Resourceless World

6 months ago

Octopus Energy To Expand Renewables Development In Spain And Enter Portugal

3 months ago

Boeing’s First Crewed Starliner Spaceflight Slips To April 2023

5 months ago

Top 8 Benefits of Project Management Office (PMO)

2 months ago

project manager-59

© 2022Project Manager News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Project Management
  • Project Management Tools & Software
  • Contact

© 2022 Project Manager News Hubb All rights reserved.