Octopus Energy Joins Forces with Skyborn to Enter French Offshore Wind Market
November 19, 2024
The French government has selected a new joint venture between Octopus Energy and Skyborn Renewables to bid in next year’s offshore wind tender.
The French government’s decision follows a rigorous pre-qualification process to choose the best companies to enter its ninth offshore wind tender round. Winners are expected to be announced in late 2025.
The move marks Octopus’ first foray into early-stage offshore wind tenders globally, as it expands its footprint in the sector.
“Offshore wind will undoubtedly play an integral role in France’s energy system, harnessing strong winds to generate more clean power. This exciting partnership with Skyborn is a game-changer, marking the first time Octopus will enter an offshore wind tender globally, and potentially adding a new country to our offshore wind roster,” said Zoisa North-Bond, CEO of Octopus Energy Generation.
“We are delighted to be officially prequalified for the ninth offshore wind tender in France. Our unprecedented partnership with Octopus Energy Generation will enable us to offer a robust project, meeting the needs of all stakeholders involved,” added Guillain Chapelon, Managing Director of Skyborn France.
Octopus started investing in offshore wind farms in 2022 and has since backed six wind farms across the U.K., Netherlands and Germany.
In France, Skyborn, in partnership with EDF Renewables, EIH, a subsidiary of Enbridge and Canada Pension Plan Investment Board (CPP Investments), commissioned the 500 MW Fécamp wind farm earlier this year. The company also has another offshore wind project under construction in the country.
In 2023, Octopus launched its landmark Offshore Wind Fund, Vector, to rapidly scale this technology.
Through the fund, it invested in Ocergy – a tech disruptor with operations in France – which is innovating in the floating offshore wind space.
In just two years, Octopus has invested $2 billion in offshore wind globally and is planning to unleash $20 billion into this sector by 2030.
With around 1 GW of installed capacity, France’s offshore wind market is still relatively small. However, the market has huge untapped potential, with the government targeting 18 GW by 2035 and 45 GW by 2050.
