Octopus Energy Generation (‘Octopus’), a portfolio company specialising in renewable energies, acquires Hamburg-based project developer MN projects GmbH.
With the acquisition of MN projects GmbH, which develops renewable energy projects at more than 70 locations in Germany, Octopus is continuing its strong growth trajectory of recent years. Octopus has invested in projects and companies in 20 countries to date and is one of the leading specialised investors in the renewable energy sector in Europe. The company manages green energy projects, including wind and solar parks, with a total capacity of more than 4.4 GW and a market value of €7.8 billion. By 2027, the company plans to invest around €1 billion in renewable energy projects in Germany. The acquisition of MN projects GmbH represents Octopus' ninth investment in Germany in less than three years.
The portfolio of MN projects GmbH includes both solar parks and battery storage projects, with the first projects already reaching the construction stage. The Hamburg-based project developer has a development pipeline of 2 GW. This will generate enough energy in the future to supply around 500,000 households.