Investment firm, APG, pumps €560 million into Octopus Australia's renewable energy infrastructure.
In a significant move towards sustainable energy, the Dutch pension services provider APG Asset Management has committed over AUD 1 billion (approximately $650 million USD) to Octopus Australia's flagship renewable energy platform, Oasis. This partnership aims to accelerate the development of utility-scale solar, wind, and battery storage projects, bolstering Octopus Australia's growing pipeline and strengthening its position in the Australian renewables sector.
The investment by APG is part of a broader renewable energy push in Australia. The Clean Energy Finance Corporation (CEFC) invested a record $2.3 billion in renewables and grid infrastructure in the 2024-25 financial year, focusing on projects and infrastructure including large transmission projects [1]. This substantial investment underscores the nation's commitment to expanding renewable energy generation and stability.
However, recent data shows a worrying investment decline in the first half of 2025, with utility-scale solar project investment falling by about 65% compared to 2024, and no new wind projects reaching financial close during that period [3][5]. To meet its net zero emissions goals by 2050, Australia requires roughly $39 billion annually up to 2030, a figure significantly higher than current levels [1].
Octopus Australia, supported by APG and other investors including Australian super funds and the CEFC, plans to significantly expand its renewable energy asset base. The focus will be on an integrated portfolio of solar, wind, and battery storage projects designed for Australia's clean energy future [4].
Meanwhile, Smart Pension, a defined contribution pension scheme, is investing £330m (€382m) in two funds managed by the Octopus Group's Octopus Energy Generation. This investment marks a significant step towards sustainable and renewable energy investments for Smart Pension [6]. The investment reinforces Smart Pension's commitment to long-term sustainable investment and accelerates the UK's transition to a net-zero economy [7].
Currently, renewable energy accounted for 40% of Australia's electricity generation in 2024, with wind, rooftop solar, and medium and large-scale solar being the largest contributors [8]. With institutions like APG and Smart Pension investing heavily in renewable energy, Australia is poised to make significant strides in its transition away from fossil fuels, despite facing challenges in securing consistent financing for renewable projects.
References: [1] Clean Energy Finance Corporation. (2025). Annual Report 2024-25. Retrieved from https://www.cefc.com.au/annual-report-2024-25/ [2] Octopus Group. (2025). Octopus Australia Secures AUD 1 Billion Investment from APG Asset Management. Retrieved from https://www.octopusgroup.com/news/octopus-australia-secures-1-billion-investment-from-apg-asset-management/ [3] Clean Energy Council. (2025). Clean Energy Australia Report 2025. Retrieved from https://www.cleanenergycouncil.org.au/reports/clean-energy-australia-report-2025/ [4] Octopus Group. (2025). Octopus Australia's Partnership with APG to Boost Renewable Energy Development. Retrieved from https://www.octopusgroup.com/news/octopus-australias-partnership-with-apg-to-boost-renewable-energy-development/ [5] Australian Renewable Energy Agency. (2025). Quarterly Renewable Energy Update Q1 2025. Retrieved from https://arena.gov.au/publications/quarterly-renewable-energy-update-q1-2025/ [6] Smart Pension. (2025). Smart Pension Invests £330m in Octopus Energy Generation. Retrieved from https://www.smartpension.co.uk/news/smart-pension-invests-330m-in-octopus-energy-generation/ [7] Smart Pension. (2025). Smart Pension's Sustainable Investment Strategy. Retrieved from https://www.smartpension.co.uk/sustainable-investment-strategy/ [8] Australian Energy Market Operator. (2025). Quarterly Energy Dynamics Report Q4 2024. Retrieved from https://www.aemo.com.au/-/media/Files/Electricity/NEM/Operational-Information/Market-Reports/Quarterly-Energy-Dynamics-Report/2024/Q4/QEDR-Q4-2024.pdf?la=en&hash=089890B875503267D8892233E7383B1940785350
The investment by APG Asset Management in Octopus Australia's Oasis platform, totaling over AUD 1 billion, is a testament to the growing trend of blended finance in the energy transition. This significant funding, when combined with the investments from Australian super funds and the Clean Energy Finance Corporation (CEFC), will facilitate technology-driven renewable energy projects in Australia, bolstering the nation's efforts towards a stable and sustainable energy future.
