Octopus Energy is seeking to reduce the UK's reliance on Russian gas imports by building a new kind of floating offshore wind farm. The new development will provide green energy, boost energy security of supply, slash carbon emissions and cut the need for overseas imports.
Boris Johnson recently announced a new Energy Security Strategy for the UK which included key investments and planning support in onshore and offshore wind, North Sea natural gas and nuclear power.
Britain will also invest in new floating wind farms with the hope of generating 5GW of clean power from this innovative new technology. Octopus Renewables is leading the way in the field with a £6.4 million investment in Simply Blue Group, which develops the floating offshore wind developments. Octopus has taken a 24% ownership stake in the firm to help it accelerate its projects at home and overseas.
Together the firms will develop more than 9GW of floating offshore wind developments, with 3GW destined for British waters. The CEO of Octopus Energy Generation, Zoisa North-Bond, said that the firm was staggered by the prospects that wind energy in Britain offered for a reliable and secure clean energy supply.
The technology is being aided by deeper water systems, which means that floating wind farms can be built far deeper out into the sea. This reduces planning concerns and visibility from the land and means that the systems can harness more powerful winds.
Octopus also hopes that new floating wind farms will diversify the range of green energy technologies available in the UK and allow green energy to be produced around the clock and in different weather conditions, especially as battery storage technologies also continue to evolve and become better at storing the excess energy for later use.