Octopus Renewables Infrastructure Trust (ORIT) has invested an additional €6.25m in Simply Blue Holdings, the parent company of the Simply Blue Group (SBG), raising its stake in SBG to c.15.5%.
It has also agreed to provide a further investment of up to €6.25m in 2023, which would raise its stake to c.19%.
Another Octopus Energy Generation-managed fund, Sky (ORI SCSp), has made an equal co-investment.
In total, Octopus-managed funds will have a c.38% stake in SBG. Its development pipeline comprises over 10GW of floating offshore wind projects, located largely in UK, Irish and wider European waters, as well as those of the U.S. and Japan.
This news comes as Octopus Energy Group recently announced another investment into offshore wind, a 12.5% stake in Hornsea One offshore wind farm.