Octopus Energy Generation, one of Europe's largest specialist renewables investors, has lifted assets under management to £8.5 billion, capping a year of swift global growth.

Its fund management arm, which invests on behalf of pension savers, now oversees a 5.7 GW clean power portfolio spanning more than 400 sites across 21 countries. Covering solar, onshore and offshore wind, and battery storage, the assets produce enough electricity to supply more than 2.8 million homes each year.

The milestone follows Octopus Energy Generation's appointment as investment manager for Renewable Power Capital's European portfolio. The mandate covers 1 GW of operational and construction-stage assets, alongside a multi-gigawatt pipeline in development across the continent.

Over the past year, the team completed 40% more clean energy transactions than in the previous 12 months, deploying £930 million in the last six months alone. Activity ranged from major investments in US clean tech to solar development in Asia and wind acquisitions across Europe.

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Since joining Octopus Energy in 2021, Octopus Energy Generation has nearly tripled the renewable assets it manages. It has also added nine institutional fund mandates, partnering with pension schemes, insurers and private wealth investors across the UK, Europe and Asia to accelerate the energy transition.

Its expanding suite of investment vehicles includes the Octopus Energy Development Partnership (OEDP), the Octopus Energy Transition Fund (OETF) and CG Octopus Energy Sustainable Growth Fund I. Its flagship evergreen Sky fund (ORI SCSp) is approaching £3 billion of committed capital.

Alex Brierley, Co-head of Octopus Energy Generation's fund management team, said: "Surpassing £8 billion in assets under management is a major milestone for us. It is testament to our track record over the past 15 years where we've been entrusted by institutional investors to unlock opportunities across the energy transition.

"As a specialist fund manager part of Octopus Energy Generation, we see first-hand how electrification is transforming energy systems for consumers around the world. Investors are increasingly looking for simple, scalable ways to support this shift - and we're focused on making that possible.

"We're helping connect capital with the infrastructure needed to deliver a cleaner, more secure and affordable energy system for everyone. We've grown rapidly in the past year, and with significant opportunities ahead – there's much more to come."