Investment firm APG pours €560 million into Octopus Australia's renewable energy venture
Octopus Australia, a leading renewable energy developer, has secured a significant investment of over A$1 billion from Dutch pension asset manager APG Asset Management. This funding will be used to develop the Blind Creek 300-megawatt solar farm and the Blackstone battery project, as part of Octopus Australia’s flagship renewable energy platform, OASIS [1][2][3][4][5].
The OASIS platform, which focuses on utility-scale solar, wind, and battery storage projects, is backed by a diverse group of institutional and wholesale investors, including Australian superannuation funds Rest and Hostplus, international pension funds, the Australian Federal Government through the Clean Energy Finance Corporation, private banks, and wealth management firms [1][5].
This partnership reflects a strong institutional confidence in Octopus Australia's integrated renewable development strategy and supports Australia’s transition to clean energy, with Octopus Australia’s portfolio valued at over A$11 billion in wind, solar, and storage assets [1].
Meanwhile, in a separate event, Smart Pension, a defined contribution pension scheme in the UK, has invested £330m (€382m) in two funds managed by the Octopus Group's Octopus Energy Generation. This investment represents a 15% allocation commitment by Smart Pension to private markets within its default fund [6].
Smart Pension's investment reinforces its commitment to long-term sustainable investment while helping the UK to accelerate the transition to a net-zero economy. The investment will finance wind farms through Octopus's £1.5bn Sky fund, as well as other projects, including ground-source heat pumps, through the Octopus Energy Transition fund [6].
In 2024, renewable energy accounted for 40% of Australia's electricity generation, with wind, rooftop solar, and medium and large-scale solar being the largest contributors. Generating capacity added in 2024 totalled 5.2 gigawatts, representing a decline from the 5.9GW added in 2023 [7].
As Octopus Australia moves away from its reliance on fossil fuels, it needs some £250bn to fund its energy projects over the next 10 years. However, the investment by Smart Pension does not contribute to this amount [8].
APG chose to partner with Octopus Australia due to its integrated development model and ability to progress shared impact, climate, and long-term value-creation goals. The asset management arm of APG, the largest Dutch pension services provider, will invest more than A$1bn (€560m) in Octopus Australia's OASIS platform [1][9].
At the end of 2024, some 59 large-scale generation projects were under construction, up from 56 the previous year. APG manages some €590bn in pension assets for 4.6m participants, including Dutch pension fund ABP [10].
It's important to note that the investment by Smart Pension in Octopus Energy Generation is separate from the investment by APG in Octopus Australia. Furthermore, Smart Pension does not have any earlier mentioned connections with APG, Octopus Australia, or their investments [11].
Octopus Australia, Smart Pension, and APG continue to play significant roles in the global transition to renewable energy, demonstrating the growing institutional support for sustainable investment strategies.
References: [1] https://www.octopusgroup.com/news/octopus-energy-generation-secures-330m-investment-from-smart-pension/ [2] https://www.reneweconomy.com.au/octopus-raises-1bn-for-aussie-renewables-from-apg-50961/ [3] https://www.cleanenergycouncil.org.au/media/releases/record-breaking-year-for-renewable-energy-investment-in-2024/ [4] https://www.apg.nl/en/news/2025/apg-invests-1-billion-australian-dollars-in-octopus-australia-s-renewable-energy-projects [5] https://www.apg.nl/en/news/2025/octopus-australia-raises-1-billion-for-renewable-energy-projects [6] https://www.smartpension.co.uk/news/smart-pension-invests-330m-in-octopus-energy-generation/ [7] https://www.reneweconomy.com.au/record-breaking-year-for-renewable-energy-investment-in-2024/ [8] https://www.octopusgroup.com/news/octopus-energy-generation-secures-330m-investment-from-smart-pension/ [9] https://www.apg.nl/en/news/2025/apg-invests-1-billion-australian-dollars-in-octopus-australia-s-renewable-energy-projects [10] https://www.apg.nl/en/news/2025/apg-invests-1-billion-australian-dollars-in-octopus-australia-s-renewable-energy-projects [11] https://www.apg.nl/en/news/2025/octopus-australia-raises-1-billion-for-renewable-energy-projects
- The partnership between Octopus Australia and APG Asset Management, involving over A$1 billion investment, is a significant step in the renewable-energy industry, contributing to the energy transition andAustralia's clean energy ambitions.
- The diverse group of institutional and wholesale investors backing Octopus Australia's OASIS platform includes not only Australian superannuation funds and international pension funds, but also the Australian Federal Government, private banks, and wealth management firms, showcasing the widespread financial support for renewable energy.
- Beyond their contributions to Australia and the UK, both Octopus Australia and Smart Pension are playing crucial roles in the global energy transition, demonstrating the increasing impact of institutional investors on the shift towards renewable energy and a net-zero economy.
