Octopus increases stake in Cork's Simply Blue with €27.5m investment

The Simply Blue Group is developing three projects in Ireland, a wave energy project off the Co Clare coast and twin 1.3GW offshore wind farms off the Cork and Clare coasts.

Cork offshore wind farm developer the Simply Blue Group has secured the additional financial backing of €25m from UK energy firm Octopus.

A further €2.5m has also been raised from other investors bringing the total investment to €27.5m. In August 2021, Octopus first invested €15m in Simply Blue taking a 24% stake in the Cork-headquartered firm founded by Sam Roch-Perks. This latest investment brings its stake in the firm to 38%.