Dutch pension investor APG Asset Management (APG) has committed to investing more than A$1 billion (about $646 million) into Octopus Australia, a renewable energy fund manager and developer, according to an announcement.
The commitment is for Octopus Australia’s flagship renewable energy platform, OASIS, to accelerate the development of the firm’s pipeline of utility-scale solar, wind, and battery storage projects.
APG, which manages the $622 billion Dutch pension fund ABP, cited Octopus’s integrated development model and shared climate goals as key factors in its selection.
The deal was made through APG’s Asia Pacific infrastructure platform following a comprehensive review of investment opportunities in the region, per the announcement.
Hans-Martin Aerts, APG’s head of Infrastructure & Private Natural Capital Asia Pacific, said the deal would generate long-term value while addressing critical climate priorities.
“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,” Aerts said.
APG now joins existing investors in the Octopus Australia platform, including large Australian superannuation funds, Rest and Hostplus, international pension funds, the Australian Federal Government via the Clean Energy Finance Corporation, as well as private banks and wealth managers.
Sam Reynolds, CEO of Octopus Australia, described the partnership as a transformational moment for both the company and the broader Australian energy landscape.
“To be chosen as the local partner by a global investor of APG’s calibre is a powerful endorsement of our strategy and team and is a reflection of Australia’s position as a leading destination for long-term, sustainable infrastructure investment,” Reynolds added.
The proposed investment is subject to Foreign Investment Review Board (FIRB) approval and other relevant regulatory clearances.
Octopus Australia is a renewable energy fund manager and developer harnessing capital and expertise to accelerate the energy transition, with an operating and development portfolio of over A$11 billion across wind, solar, and battery storage.
APG, on the other hand, has a global presence with offices in Amsterdam, Heerlen, Brussels, New York, Hong Kong, and Singapore.
