Octopus Australia has announced a landmark partnership with Dutch pension fund APG Asset Management (APG).
As part of the partnership, APG intends to commit over $1 billion to Octopus Australia’s flagship renewable energy platform, OASIS.
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Representing one of the most significant institutional engagements in Australia’s clean energy transition to date, the partnership will help accelerate Octopus Australia’s growing platform and pipeline of utility-scale solar, wind, and battery storage projects.
“This partnership marks a transformational moment for both our business and the broader Australian energy landscape,” Octopus Australia CEO Sam Reynolds said.
“To be chosen as the local partner by a global investor of APG’s calibre is a powerful endorsement of our strategy and team and is a reflection of Australia’s position as a leading destination for long-term, sustainable infrastructure investment.”
“Our partnership with Octopus Australia represents a substantial opportunity to drive meaningful impact around critical climate priorities with best-in-class renewables projects that are strongly positioned to generate value for decades to come,” APG head of infrastructure and private natural capital Hans-Martin Aerts said.
“We are looking forward to deepening our collaboration with Octopus Australia as we meet substantial demand for high-quality renewable energy infrastructure in key markets like Australia and support the wider energy transition needed across the world’s highest emissions regions.”
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APG joins existing investors in the Octopus Australia platform, including large Australian superannuation funds, Rest and Hostplus, international pension funds, the Australian Federal Government via the Clean Energy Finance Corporation, as well as private banks and wealth managers.
Completion of the proposed investment remains subject to the approval of the Foreign Investment Review Board and other relevant Australian regulatory authorities.
