Wind Power

26 Apr 2024

Octopus Energy Invests in Ocergy to Boost Floating Offshore Wind Energy Worldwide

26 Apr 2024  by evwind   
The investment is made through Vector, Octopus Energy’s offshore wind fund. He will drive the commercialization of Ocergy’s technology.

Octopus Energy Generation has announced its investment in Ocergy. It is a company dedicated to the design and manufacture of floating, lightweight and modular foundations for offshore wind farms. They are used in areas with very deep coasts where fixed foundations are not viable. In that sense, almost 80% of offshore wind resources are located in deep waters, which demonstrates the great potential of Ocergy.

Ocergy is headquartered in the US with operations in France. With its innovative technology, it is transforming offshore wind, since its light floating foundations allow the cost and construction time of wind farms to be considerably reduced.

The company works with regional manufacturers, creating sustainable employment in the areas of wind turbine installation. Additionally, it is collaborating with more than a dozen developers on various projects, and the first foundations are scheduled to be installed between 2025 and 2026.

Octopus’ investment, through Vector, will boost the commercialization of Ocergy’s technology and accelerate its expansion into new markets. It will also support the development of its advanced environmental and biodiversity monitoring system.

With this step, Octopus intends to boost offshore wind energy, reduce dependence on fossil fuels and strengthen energy security.

Zoisa North-Bond, CEO of Octopus Energy Generation, commented:

“Technology and innovation are driving the energy revolution, so we are always looking for new solutions that accelerate progress. “Ocergy has the potential to significantly reduce the costs of floating offshore wind and, with our investment, we will move faster towards cleaner, more sustainable energy systems around the world.”

For his part, Dominique Roddier, CEO of Ocergy, added:

“This collaboration with Octopus Energy Generation will help us expand our operations and focus on the execution of both pre-commercial and large-scale offshore wind projects. Collaborating with Octopus Energy will significantly improve the viability of our projects.”

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