Britain's Octopus makes first investment in German offshore wind

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Britain's Octopus Energy said it has made its first investment in German offshore wind under plans to scale up its renewables activity in the world's third-largest market. Octopus Energy Generation has taken a 5% stake in Butendiek, an 80-turbine offshore wind farm 32 kilometres west of the island of Sylt in the North Sea, Octopus said in a statement. Ranking third globally after China and Britain, Germany has more than 8 Gigawatts (GW) of offshore wind capacity and has a target of 70 GW by 2045.