Octopus Australia’s flagship renewable energy platform OASIS has attracted Dutch pension investor APG Asset Management, which intends to invest more than AUD 1 billion ($650 million) in the company.

One of the world’s largest pension fund investors, APG manages more than AUD 1 trillion investment. After a detailed review, it chose to partner with Octopus Australia because of its integrated development model and shared focus on impact, climate goals, and long-term value creation.

“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,” said APG’s Head of Infrastructure & Private Natural Capital across Asia Pacific, Hans-Martin Aerts.

APG joins Octopus Australia’s existing investors, including major super funds, global pension funds, the CEFC, and private financial institutions.

Octopus Australia, a subsidiary of Britian’s Octopus Group, says that this partnership will bring it financial backing to accelerate its growing platform and pipeline of utility-scale solar, wind, and battery storage projects.

The company currently manages an operating and development portfolio of over $11 billion across wind, solar and battery storage.