Octopus launches $10 billion renewable energy platform, buys Australia's largest solar farm
Octopus Investment Australia has officially launched a $10 billion renewable energy “platform,” which will seek to finance large solar, wind and battery storage projects and has purchased Australia’s largest operating solar farm. Octopus Australia – a subsidiary of one of the world’s largest investors in clean energy, the Octopus Group – said on Wednesday it had simultaneously closed two full subscription funds co-invested in Australia’s multibillion-dollar renewable energy portfolio. The two investment vehicles are the Octopus Australia Sustainable Investments (Oasis) Fund, open to institutional investors, and the Octopus Renewable Energy Opportunities (Oreo) Fund, open to wholesale investors. Among the institutional investors who have joined the Oasis fund so far are the federal government’s Clean Energy Finance Corporation and Australian pension fund Hostplus, which has more than 1.5 million members and $86.6 billion in funds under management. Octopus said the secured portfolio c