Octopus Australia has secured a landmark partnership with trillion-dollar Dutch pension investor APG Asset Management that will inject more than AUD 1 billion into its flagship renewable energy platform, dubbed Oasis.
Octopus Australia Chief Executive Officer Sam Reynolds said the partnership will underpin an accelerated expansion of the renewable developer’s growing platform and pipeline of utility-scale solar, wind, and battery energy storage projects.
“This partnership marks a transformational moment for both our business and the broader Australian energy landscape,” he said. “To be chosen as the local partner by a global investor of APG’s caliber is a powerful endorsement of our strategy and team and is a reflection of Australia’s position as a leading destination for long-term, sustainable infrastructure investment.”
Octopus Australia, a subsidiary of United Kingdom-based Octopus Group which manages 3 GW of renewable energy assets worth more than $7 billion across nine countries, said APG’s commitment represents one of the most significant institutional engagements in Australia’s clean energy transition to date,
Hans-Martin Aerts, head of infrastructure and private natural capital across Asia Pacific at APG, said Australia’s renewable energy market stands out as a key market with “substantial demand for high-quality renewable energy infrastructure … Our partnership with Octopus Australia represents a substantial opportunity to drive meaningful impact around critical climate priorities with best-in-class renewables projects that are strongly positioned to generate value for decades to come.”
Reynolds said the partnership will allow Octopus Australia to continue to build on its position as one of the country’s most active growing energy infrastructure managers.
“The teams are strongly aligned in purpose and ambition,” he said. “Together will deliver projects that create long-term value for investors and communities, while playing a key role in Australia’s energy transition.”
Octopus Australia said it manages more than AUD 1.4 billion in assets across wind, solar, storage and hybrid technology projects and has a development portfolio of projects totaling about AUD 10 billion in value. Its operational assets include 333 MW Darlington Point Solar Farm in southeastern New South Wales and the 180 MW Dulacca wind farm in Queensland.
Projects in its construction and development pipeline include the 300 MW Blind Creek solar-storage hybrid power plant in southwest NSW, and the 80 MW Fulham solar and storage project and the 60 MW Perry Bridge solar farm, both in the Gippsland region of Victoria. Other projects in its portfolio include the up to 500 MW/1,000 MWh Blackstone battery and the Ardandra hybrid solar and battery project, both in southeast Queensland.
Completion of APG’s proposed investment remains subject to the approval of the Foreign Investment Review Board and other relevant Australian regulatory authorities.
