Octopus Australia today announced a landmark partnership with APG Asset Management (“APG”), one of the world’s largest pension fund investors with assets under management exceeding A$1 trillion (EUR 590 billion). As part of the partnership, APG intends to commit over A$1 billion dollars to Octopus Australia’s flagship renewable energy platform, OASIS.
Representing one of the most significant institutional engagements in Australia’s clean energy transition to date, the partnership will help accelerate Octopus Australia’s growing platform and pipeline of utility-scale solar, wind, and battery storage projects.
“This partnership marks a transformational moment for both our business and the broader Australian energy landscape,” said Sam Reynolds, CEO of Octopus Australia. “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.”
“Our teams are strongly aligned in purpose and ambition,” Reynolds added. “Together, we will continue delivering projects that create long-term value, while playing a key role in decarbonising the nation.”
Following a comprehensive review, APG 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.
“Our partnership with Octopus Australia represents a substantial opportunity to drive meaningful impact around critical climate priorities with best-in-class renewables projects that are strongly positioned to generate value for decades to come,” said Hans-Martin Aerts, Managing Director and Head of Infrastructure & Natural Resources across Asia Pacific at APG. “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.”
Through the partnership, Octopus Australia will continue to build on its position as one of the country’s most active growing energy infrastructure managers, underpinned by the scale and commitment of a leading group of institutional and wholesale investors. APG 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.
Completion of the proposed investment remains subject to the approval of the Foreign Investment Review Board and other relevant Australian regulatory authorities.
