The renewable energy business is heating up around the world! Greatcoat Renewables builds a long-term strategic agreement with FuturEnergy Ireland with an expected investment of €1B! Octopus Energy invests in Deep Wind Offshore furthering Octopus' commitment to invest $20B in offshore wind globally. And, Thailand's EGCO is expecting big returns from its investment in Apex Clean Energy.

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News Flash September 11

Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech, and I'm here with the founder and CEO of Intelstor, Phil Totaro, and this is your News Flash. FuturEnergy Ireland, a joint venture between Ireland's Coillte and ESB, has entered into a long term strategic framework agreement with Greencoat Renewables.

Under this partnership, Greencoat will acquire stakes in FuturEnergy's onshore wind projects in Ireland as they reach commercial operations with an expected investment of over 1 billion euros by 2030. This collaboration will facilitate the commercialization of renewable energy projects, supporting Ireland's climate goals and leveraging the country's renewable electricity support scheme and corporate power purchase agreement market.

Wow. That's a mouthful. Phil, there's a lot going on there for a billion euros. 

Phil Totaro: Right. And that complements investments that have already been made by Greencoat in Ireland, the UK, continental Europe and elsewhere in both onshore and now they're starting to dabble in in offshore wind investments as well.

So. They're, they're starting to get serious and this just continues to enhance that portfolio.

Allen Hall: Octopus Energy is investing in Deep Wind Offshore to fund its expansion. Deep Wind Offshore, originally founded in Norway, aims to build 10 gigawatts of new offshore wind capacity by 2032, with 2 gigawatts exclusively in South Korea.

The company has grown rapidly since it's launch in January 2021, 

partnering with major energy companies like EDF Renewables and BP. Octopus Energy's investment will accelerate Deep Wind Offshore's growth, supporting the development of fixed and floating offshore wind projects, potentially in other markets. Phil, Octopus Energy really going big in offshore wind. 

Phil Totaro: Well, and if I can maybe make a quick joke, they're extending their tentacles even further.

You know, they... They've really, I mean, interestingly too, I mean, Octopus invests in obviously onshore wind and solar again in the UK, throughout continental Europe but also they've been active in investigating markets like Australia, this new partnership with Deep Wind gives them that foothold in South Korea.

They've also been quite active in the past with investments in Simply Blue Group which is developing a lot of floating. Deep Wind is presumably also going to be developing a significant amount of floating capacity in South Korea and other markets, so. This is kind of the, the beginning of, of the, the growth opportunities for, for both Deep Wind Offshore and Octopus Group.

Allen Hall: Electricity Generating Company, a subsidiary of state run Electricity Generating Authority of Thailand, anticipates significant revenue from its investment in Apex Clean Energy Holdings. The company's president expressed optimism about the potential benefits generated by Apex in the coming years, especially since the, in the United States where Apex runs its projec...