RES and Octopus Renewables extend partnership beyond 500MW of assets

RES and Octopus Renewables have announced that they are extending their partnership to a total of 503MW of operational assets after two new wind farm asset management contracts and a portfolio of solar operations and maintenance (O&M) work was awarded to RES, the world’s largest independent renewable energy company.

Following a competitive tender process Octopus Renewables, a leading European investor in onshore renewables, has awarded contracts for the Burton Wold South Wind Farm in Northamptonshire, and Muirhall South Wind Farm in South Lanarkshire to RES. The contracts, which start immediately, brings the total number of wind farms being managed by RES for Octopus to 15 and extends a five-year working relationship between the companies.

RES has also won O&M contracts for 43 Octopus Renewables solar farms in the UK, representing a significant share of their 1GW portfolio. The new contracts have allowed RES to further expand their O&M team.

Simon Deacon, Operations and Maintenance Director at RES, said: “This is a great addition to RES’ portfolio of projects and demonstrates the success of our ongoing work with Octopus Renewables.

“We’re committed to using our 38 years’ experience and capabilities to continue to go above and beyond for our clients, performing, on average, 1% better than industry standard.

“We’re already working to maximise the yields of these new sites and we’re excited to see where the next step in this growing relationship takes us.”

Thomas Rosser, Asset Management Managing Director at Octopus Renewables said: “We have developed a great working relationship with RES over the past five years and we’re really pleased that we’ll be able to build on that with these new wind and solar contracts.

“RES has demonstrated significant expertise and understanding of the renewable energy landscape across the world and helped us to drive investor returns across our growing renewable energy portfolio. We look forward to continuing to work alongside RES who share our focus for driving a future powered by renewable energy.”

RES is active in onshore and offshore wind, solar, energy storage, transmission and distribution. In its 38-year history, RES has delivered more than 18GW of renewable energy projects across the globe.

ENDS

Notes to editors:

About RES:

RES is the world’s largest independent renewable energy company active in onshore and offshore wind, solar, energy storage and transmission and distribution. At the forefront of the industry for over 38 years, RES has delivered more than 18 GW of renewable energy projects across the globe and supports an operational asset portfolio exceeding 6 GW worldwide for a large client base. Understanding the unique needs of corporate clients, RES has secured 1.5GW of power purchase agreements (PPAs) enabling access to energy at the lowest cost. RES employs more than 2,500 people and is active in 10 countries.

About Octopus Renewables

Octopus Renewables, part of Octopus Group, is a specialist clean energy investor and our mission is to accelerate the transition to a future powered by renewable energy. We have a diverse portfolio of assets with a capacity of over 2.6GW, making us a leading European investor in onshore renewables. Octopus is also leading the next wave of renewables being built across Europe and Australia. We believe there is a significant opportunity to unblock much needed investment by building bespoke portfolios of renewable assets at scale, across technologies and countries, to create better outcomes for our investors.