Octopus Energy Generation Acquires Stake in East Anglia One
Deal News | Apr 04, 2025 | Orrick
Octopus Energy Generation has successfully acquired a minority indirect interest in the operational East Anglia One Offshore Wind Farm from Macquarie Asset Management. Initially developed by ScottishPower Renewables, the wind farm has undergone various ownership changes, now seeing Macquarie sell its remaining 10% interest. This acquisition was facilitated through Octopus's innovative Vector fund designed for offshore wind investments with advanced tech aimed at cost reduction. Orrick advised Octopus on this strategic move, showcasing the firm's expertise in high-end renewables transactions. The East Anglia One project, active since 2021, boasts a 714 MW capacity supplying green energy to roughly 700,000 British homes annually. An extensive team from Orrick, including leaders Simon Alsey and Ravinder Sandhu, orchestrated the transaction, underscoring Orrick's global proficiency in complex legal advisory for energy and infrastructure projects.
Sectors
- Renewable Energy
- Legal Advisory
Geography
- United Kingdom – The East Anglia One Offshore Wind Farm is located off the coast of Suffolk, UK, and the transaction occurred in this region.
Industry
- Renewable Energy – The article discusses investments in the offshore wind sector and highlights the strategic importance of renewable energy for Octopus Energy Generation.
- Legal Advisory – Orrick's role in advising Octopus Energy Generation reflects the legal advisory industry's involvement in major renewable energy transactions.
Financials
- 10% – The percentage of Macquarie's stake in the East Anglia One Offshore Wind Farm sold to Octopus Energy Generation.
- 714 MW – The capacity of the East Anglia One Offshore Wind Farm.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Octopus Energy Generation | Buyer | Company | An energy company specializing in renewable investments, acquiring a stake in the East Anglia One Offshore Wind Farm. |
| Macquarie Asset Management | Seller | Company | An asset management firm that sold its remaining 10% stake in the East Anglia One project. |
| Orrick | Legal Advisor | Company | A global law firm providing legal advisory services to Octopus Energy Generation for this transaction. |
| ScottishPower Renewables | Developer | Company | The original developer of the East Anglia One Offshore Wind Farm. |
| Vector | Investment Fund | Business Unit | Octopus Energy Generation's fund that invested in the East Anglia One Offshore Wind Farm. |