Octopus Renewables Infrastructure Trust (ORIT)

Octopus Renewables Infrastructure Trust (ORIT) held a successful Capital Markets Day at the London Stock Exchange earlier this month. Watch here as Non-Executive Director James Cameron discusses his highlights and take-aways from the day, and go to the comments below ⬇️ for a link to the event recording which is also on the home page of the Octopus Renewables Infrastructure Trust (ORIT) website. #ORIT #capitalmarketsday #renewableenergy #investmentcompany

There's just 1 week to go until QuotedData's third Weekly News Show Special on 20th September 2024! Register now: https://lnkd.in/e5P3MAEj Will the new government create new investment opportunities and a more supportive environment for our sector? Our host, James Carthew, will be talking to David Bird from Octopus Renewables Infrastructure Trust (ORIT), Neil Hermon from The Henderson Smaller Companies Investment Trust plc, Georgina Brittan from JPMORGAN SMALLER COMPANIES INVESTMENT TRUST PLC and Duncan Ball from BBGI Global Infrastructure SA. Join us with the panellist - don't forget to submit your questions! We will be live streaming our Weekly News Show on YouTube. Subscribe here https://lnkd.in/gguCv5Wy if you haven't already. #quoteddata #investmentcompany #investment #events #news #OctopusRenewableEnergy #HendersonSmallerCompanies #JPMorganSmallerCompanies #BBGIGlobalInfrastructure #QD #BBGI #HSL #JUGI #ORIT #interview #newstoday #alternativeassets #uksmallercompanies #renewableenergy #panel #discussion

We’re pleased to announce the completion of the sale process announced in July of the Ljungbyholm onshore wind farm in Sweden to DWS Infrastruktur Europa for €73.7 million, delivering an IRR of 11.3%. This sale is part of our ongoing capital recycling programme and has generated a premium of £1.4 million over the asset’s valuation. The proceeds will be used to reduce our short-term debt, bringing total gearing down to 43%. Octopus Energy Generation managed the project from pre-construction through to successful operation. This transaction, along with previous sales, has now generated approximately £159 million in gross proceeds. Special thanks to Newsec Energy Transition for their advice on this transaction. Philip Austin MBE, our Chairman, commented: "We are pleased to complete the latest phase of ORIT's capital recycling programme, securing an attractive sale price at a premium to the asset's holding value and which once again provides support to the Company's valuations. The proceeds enable ORIT to repay a significant proportion of its short-term debt, which has been a key focus for the Company. Completion of the sale also further demonstrates our Investment Manager's ability to manage the construction and successful operation of renewable energy assets." #ORIT #RenewableEnergy #windenergy

Today, ORIT released its Q2 2024 Factsheet and NAV results. #orit

Exciting News for Octopus Renewables Infrastructure Trust plc! We're thrilled to announce a new milestone in our capital recycling programme. ORIT has entered into a conditional agreement to sell the Ljungbyholm onshore wind farm in Sweden to a German institutional investor for approximately €74 million. This sale price aligns with our March 2024 valuation and is expected to realise an IRR of around 11% over the life of our investment. The net proceeds are expected to be used predominantly to repay part of our short-term debt facility. The transaction is subject to foreign direct investment approval by the Swedish Inspectorate for Strategic Products, which we anticipate receiving later this year. A bit of history: ORIT acquired the 48MW Ljungbyholm wind farm at the pre-construction stage in March 2020, with an investment of about €68 million. The Investment Manager, Octopus Energy Generation managed the construction and the wind farm became operational in June 2021. This sale is part of ORIT’s capital recycling programme, which includes the sale of two Polish onshore wind assets in December 2023 and the divestment of a Spanish solar PV project option in January 2024. Upon completion of the transaction, our programme will have generated around £159 million. A special thank you to Newsec Energy Transition AB for advising us on this transaction. #RenewableEnergy #WindEnergy #ORIT

Don't forget you can register to attend ORIT's upcoming Annual General Meeting this Wednesday via Investor Meet Company Date : 19th June 2024 Time : 10:00am UK time Registration link: https://lnkd.in/e5r5fpF5

Exciting News from ORIT! 🌊 We are proud to announce that ORIT is deepening its commitment to Simply Blue Group, a leading developer of floating offshore wind projects and sustainable fuels technologies headquartered in Ireland. ORIT, which first invested in Simply Blue Group in August 2021, has agreed to invest an additional €7m in their current funding round. This brings ORIT’s ownership to approximately 20%. The new funding, structured as a convertible loan, will enable Simply Blue Group to continue developing their extensive pipeline of offshore wind and sustainable fuels projects while seeking long-term strategic funding to bring these projects to the construction-ready stage. Joining us in this funding round is Sky (ORI SCSp), a fund managed by Octopus Energy Generation, which is also investing €7m and will similarly hold a 20% stake in Simply Blue Group. This investment underscores our dedication to supporting innovative and sustainable energy solutions. We are excited to see the progress Simply Blue Group will make with this new funding. Photo credit: Simply Blue Group #RenewableEnergy #OffshoreWind #SustainableFuels #Investment #CleanEnergy #Sustainability #ORIT

For over 15 years, we’ve been committed to reducing our environmental impact from being the first media company to go carbon neutral in 2006 to launching the world’s first auto standby set top box 🌍   And as part of our ongoing commitment, we’ve signed a new 10-year agreement with Octopus Renewables Infrastructure Trust (ORIT) to receive 100 GWh of clean, renewable energy annually from the Crossdykes Wind Farm from 2025 – which is equivalent to approximately 34,000 UK homes’ annual electricity use 💡   Find out more on our latest agreement here ➡ https://lnkd.in/eTzeAia4

Today, ORIT released its Q1 2024 Factsheet and NAV results. #orit

Crossdykes wind farm, which is 51% owned by ORIT, has signed a power purchase agreement with Sky UK Limited. The media and telecoms corporation will purchase 69% of the electricity generated from April 2025 under a 10-year agreement. ORIT acquired its stake in the Lanarkshire (Scotland) site in 2022, alongside Octopus Renewables Infrastructure SCSp (another fund also managed by Octopus Energy Generation) which acquired the remaining 49%. The 46MW wind farm is expected to generate in total c.144GWh of electricity every year, which is enough to power the equivalent of around 50,000 homes and avoid around 50,000 tonnes of carbon dioxide emissions every year, equivalent to planting 250,000 trees. Many thanks to Pat Durai, Samuel Stevens and the rest of the team at Sky who worked with James Zhou and the Octopus Energy Generation team on the agreement.