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Octopus acquires Australia’s largest operational solar park

From pv magazine Australia

Octopus Australia’s two new funds, one for institutional investors and the other for wholesale investors, will provide money for a multibillion-dollar Australian renewable energy portfolio. It says it currently has a secured portfolio of AUD 3 billion ($2 billion) across wind, solar and storage, with a visible pipeline for an additional AUD 5 billion.

The platform for institutional investors, named the Octopus Australia Sustainable Investments (OASIS) Fund, has already secured a AUD 75 million commitment from the Commonwealth government’s Clean Energy Finance Corp. (CEFC), as well as from superannuation fund Hostplus and Octopus Renewables’ Sky Fund, backed by European institutional investors.

Alongside the second fund for wholesale investors, named Octopus Renewable Energy Opportunities (OREO), the platforms are set up to manage Australia’s energy transition and will finance the entire renewable energy life cycle, says Octopus Australia.

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The first project jointly acquired by the OASIS and OREO funds is the the 333 MW Darlington Point Solar Farm, Australia’s largest operational solar project.

Octopus Investments Australia is owned by the UK-based Octopus Group, which manages 3 GW of renewable energy assets worth more than AUD 6.9 billion across nine countries.

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Source: pv magazine