Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Floating wind player Simply Blue draws £6.3m investment from Octopus Renewables

dolphyn green hydrogen
A floating offshore wind turbine

Floating wind firm Simply Blue Group has drawn a €7.5m (£6.3m) investment from Octopus Renewables.

Simply Blue has a pipeline of more than 9GW of floating offshore wind projects to date in waters off the UK and Ireland.

The firm also has ambitions for the 200 megawatt Salamander floating wind farm off Peterhead, which it is hoping to acquire a seabed lease for outside of the current ScotWind round.

Octopus Renewables, which was acquired by sister firm Octopus Energy earlier this year, is investing £6.3m in Simply Blue, bringing it a 12% stake in the business.

The firm is co-investing the cash with the Octopus Renewables Infrastructure Trust, an investment vehicle for renewable assets.

Chris Gaydon, investment director at Octopus Renewables, said:  “We are delighted to be working with Simply Blue, a leading marine project developer with a highly experienced and best-in-class management team.

“Floating offshore wind is a particularly exciting renewable energy sector which is expected to undergo rapid growth over the years to come and is a key part of government decarbonisation plans in a number of European countries.

“We believe Simply Blue is very well positioned to capture this growth.”

Earlier this month, Simply Blue, which is headquartered in Ireland, said it will work alongside Subsea 7 to establish whether the “Dolphyn” green hydrogen project could be incorporated into its Salamander scheme off Peterhead.

The scheme, unveiled by consultancy ERM last year, is aimed at producing hydrogen on a floating wind platform to be transported to shore via pipeline.

Simply Blue Group also announced a partnership earlier this year with Shell, who signed a deal to acquire a 51% stake in its Kinsale venture which was set up to establish the Emerald floating wind farm in the Celtic Sea off Ireland’s south coast.

With a background in marine development, Simply Blue also has interests in wave energy and sustainable aquaculture.

The business is headquartered in Cork, Ireland.


Recommended for you

More from Energy Voice

Latest Posts