Octopus Energy invests in offshore wind farm

Octopus Energy’s generation arm has acquired a 12.5% stake in the Walney Extension offshore wind farm in the Irish Sea.

With a capacity of 660MW, the wind farm is one of the world’s largest, featuring 87 turbines, which have been operational since 2018.

Situated in the Irish Sea off the coast of Barrow-in-Furness, the wind farm can generate enough electricity to power nearly 600,000 homes.

Zoisa North-Bond, Chief Executive Officer of Octopus Energy Generation, said: “The UK is already a world leader in offshore wind and we’re confident this secure and home-grown energy source will play an even bigger role in the country’s energy mix.”

As we experience our first cold snap this winter, in the last 30 minutes the UK is currently using 41.07 GW’s of electricity of which wind farms currently supply 12.95 GW’s of the total mix. The total generation mix is as follows:

1) Gas: 19.19 GW’s (45.19%)
2) Wind: 12.95 GW’s (30.49%)
3) Nuclear: 4.09 GW’s (9.64%)
4) Biomass: 2.94 GW’s (6.93%)
5) Imports/Exports: 1.66 GW’s (3.91%)
6) Coal: 0.96 GW’s (2.27%)
7) Hydro: 0.45 GW’s (1.05%)
8) Solar: 0.22 GW’s (0.52%)

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