Dutch pension fund APG has agreed to provide Octopus Australia with AU$1 billion (US$640 million) in funding as part of a new strategic partnership to support its solar, wind, and battery energy storage portfolio.
The funding will be allocated to the Octopus Australia Sustainable Investments Fund (OASIS), which is described as an open-ended unregistered wholesale Australian unit trust that focuses on providing investors with exposure to a diversified portfolio of Australian clean energy infrastructure assets.
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Revenue for the portfolio is generated through a combination of energy sales via long-term/fixed-price contracts, such as power purchase agreements (PPAs) and wholesale energy trading.
The fund has a targeted total return of between 10% and 12% per annum.
Sam Reynolds, CEO of Octopus Australia, a regional entity of UK-headquartered Octopus Group, said the partnership marks a “transformational moment for both our business and the broader Australian energy landscape.”
In a statement, APG said it chose to partner with Octopus Australia based on its “integrated development model and ability to progress shared impact, climate, and long-term value creation goals.”
Other investors in the OASIS fund include Australian superannuation funds, Rest and Hostplus, international pension funds, the Australian federal government via the Clean Energy Finance Corporation (CEFC), and several private banks and wealth managers.
The completion of the proposed investment remains subject to the approval of the Foreign Investment Review Board and other relevant Australian regulatory authorities.
Hans-Martin Aerts, head of infrastructure and private natural capital for Asia-Pacific at APG, believes the partnership with Octopus Australia represents a “substantial opportunity” to drive climate action.
“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,” Aerts said.
Octopus Australia has been actively investing in the local solar market through several utility-scale projects across the country.
This includes the 300MW Blind Creek Solar Farm in New South Wales. The solar-plus-storage site includes plans for a 243MW/486MWh, 2-hour duration battery energy storage system (BESS). It is located 32km north-east of the country’s capital, Canberra, and 8km northeast of the rural town of Bungendore.
The organisation is developing another DC-coupled solar-plus-storage project in Australia. This site is called the Fulham Solar Farm and Battery and has a generation capacity of 80MW coupled with a 64MW/128MWh BESS. Construction on the site started in April 2025.
Our publisher, Solar Media, will host the Battery Asset Management Summit Australia 2025 on 26-27 August in Sydney. You can get 20% off your ticket using the code ESN20 at checkout.
