Investment firm APG commits €560 million to Octopus Australia's renewable energy venture.
In a significant move for the Australian renewable energy market, two major institutional investors - APG, the largest Dutch pension services provider, and Smart Pension, a UK-based pension fund - have pledged substantial investments in Octopus Australia's OASIS platform. This partnership is set to be a multi-billion dollar, multiyear relationship, marking a transformative phase in the country's energy landscape.
APG has committed more than A$1 billion (€560 million) to invest in Octopus Australia’s OASIS platform, a major renewable energy fund focused on utility-scale solar, wind, and battery storage projects. Smart Pension, which now has more than £7 billion in assets under management, has also invested in Octopus Energy Generation, partnering alongside APG and other institutional and pension funds in these renewable assets.
Octopus Australia’s OASIS platform is a flagship vehicle for accelerating renewable energy deployment. The integrated development model, which combines project development, construction, and operations under one roof, is designed to build a balanced portfolio of solar, wind, and storage assets across the country. This partnership under APG’s investment framework represents one of the largest institutional commitments to Australia’s renewables sector.
The investment from APG will be used to develop Octopus Australia's Blind Creek 300-megawatt solar farm and a 500 megawatt-hour battery project. Some of the funding will also go to the 1 gigawatt-hour Blackstone battery project near Brisbane in Queensland. However, it's important to note that these investments are not related to the development of Octopus Australia's Blind Creek solar farm or the Blackstone battery project.
The investment from APG and Smart Pension reinforces their commitment to long-term sustainable investment. Smart Pension's investment makes up 5% of its default fund, and this move underscores its dedication to supporting the transition to a net-zero economy, not just in Australia but globally.
The renewable energy sector in Australia has shown robust growth, with over A$9 billion committed to new large-scale clean energy projects in 2024. Despite a slight softness in Q2 2025 for new financial commitments in large-scale generation and storage, there remain 83 renewable electricity projects and 73 storage projects at financial commitment or construction stages. However, the 1,173 MW committed in the first half of 2025 currently falls short of the roughly 6-7 GW per annum needed to meet Australia’s 82% renewable electricity target by 2030, highlighting a need to sustain and ramp up investment momentum.
The Australian Government, through the Clean Energy Finance Corporation (CEFC), has also been actively supporting this transition. In the 12 months ending June 2025, the CEFC reported a record AU$4.7 billion invested in large-scale renewables, storage, and transmission, underscoring the government’s role in supporting the clean energy infrastructure.
In conclusion, the investments by APG and Smart Pension are set to play a pivotal role in financing the Australian renewable sector. These investments, along with the record clean energy investments and growing renewable capacity, mark a significant step forward in Australia's energy transition away from fossil fuels.
- APG's investment of more than A$1 billion in Octopus Australia’s OASIS platform is a significant step towards the development finance of renewable-energy projects.
- The energy transition in Australia is being boosted by investments in renewable-energy, such as the one made by Smart Pension in Octopus Energy Generation, which focuses on social impact through promoting the use of renewable energy.
- Financial inclusion is being enhanced in the Australian renewable-energy industry due to the substantial investments by institutional investors, like APG and Smart Pension, extending opportunities for various stakeholders.
- The investing in renewable-energy projects by APG and Smart Pension signifies their commitment to promoting a sustainable energy landscape, contributing to the overall industry growth and the country's progress towards a net-zero economy.
