Octopus Energy Generation Acquires a Minority Indirect Interest in the East Anglia One Offshore Wind Farm in the UK
4 minute read | April.03.2025
Orrick has advised Octopus Energy Generation (“Octopus”) on the acquisition of a minority indirect interest in the operational East Anglia One Offshore Wind Farm in the UK (“EA1”) from Macquarie Asset Management (“Macquarie”).
THE TRANSACTION
EA1 was originally developed by ScottishPower Renewables. Macquarie acquired a 40% interest during construction and has subsequently completed sell-downs of 20% to The Renewables Infrastructure Group and of 10% to L&G NTR Clean Power Fund. This transaction constitutes the disposal by Macquarie of its remaining 10% interest in the project.
Octopus acquired its interest in EA1 via Vector, Octopus’ innovative offshore wind fund, which invests in fixed and floating offshore wind and pioneering tech to reduce costs.
Simon Alsey, Orrick partner, commented: "We are delighted to have advised the Octopus team on this acquisition, its latest strategic investment in the offshore wind sector. The transaction also demonstrates Orrick’s global market-leading expertise in high-end renewables transactions, including the offshore wind sector”.
THE IMPACT
EA1 has a capacity of 714 MW and is located 43 kilometers off the coast of Suffolk in the East of England. The project been powering Britain with green energy since 2021. With 102 turbines, it is among the top 10 biggest wind farms in the world, generating enough clean power to electrify around 700,000 homes a year.
THE TEAM
The multi-disciplinary Orrick team was led by Simon Alsey and Ravinder Sandhu and was supported by April Lord and David O’Donovan. Other members of the Orrick team that provided valuable assistance on this transaction include Simon Folley, Alfred Weightman, Craig Bruce and Oliver Sikora (Energy & Infrastructure), Mark Beeley (International Arbitration & Dispute Resolution), Katie Cotton and Katrina Murphy (Mergers & Acquisitions), Victoria Newbold (Antitrust & Competition), Jonathan Rosen (Tax), Bethany Brabner and Milo Dunne.