REG - Octopus Renewables - Finnish Wind & Solar Development Platform

Octopus Renewables Infrastructure TrustAnnouncement

13/04/2022 07:00

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RNS Number : 1896I  Octopus Renewables Infra Trust PLC  13 April 2022

 

13 April 2022

 

LEI: 213800B81BFJKWM2JV13

 

Octopus Renewables Infrastructure Trust plc

 

("ORIT" or the "Company")

 

Investment into Finnish Wind and Solar Development Platform

 

Octopus Renewables Infrastructure Trust plc is pleased to announce that it has
committed to invest up to €3.5 million (c. £2.9 million) to set up and fund
Nordic Renewables Limited, a new development platform focused on renewable
energy assets in Finland. The investment is made alongside an equal amount
from another fund managed by Octopus Renewables Limited (the "Octopus Managed
Fund"). Nordic Renewables Limited will benefit from an exclusive joint
development arrangement with Nordic Generation Limited, a specialist developer
focused on the Finnish market and managed by a team of industry veterans from
the UK and Finland.

 

Nordic Renewables Limited will initially target the development over the next
3-5 years of onshore wind farms and solar PV assets in Finland with a
potential combined capacity of approximately 400MW. ORIT and the Octopus
Managed Fund will benefit from preferential rights to fund the construction of
the projects reaching ready to build stage.

 

Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc,
commented:

"We are delighted to announce this investment, alongside another Octopus
Managed Fund, to set up and manage a new platform for renewable energy assets
in Finland working with Nordic Generation. We feel this opportunity is
extremely attractive as it has the potential to provide ORIT with additional
exposure to assets in construction and to broaden the Company's pipeline."

 

For further information please contact:

 

 Octopus Renewables Limited (Investment Manager)                Via Buchanan

 Matt Setchell, Chris Gaydon, David Bird

 Peel Hunt (Broker)                                             020 7418 8900

 Liz Yong, Luke Simpson, Huw Jeremy (Investment Banking)

 Alex Howe, Chris Bunstead, Ed Welsby, Richard Harris (Sales)

 Buchanan (Financial PR)                                         020 7466 5000

 Charles Ryland, Hannah Ratcliff, George Beale

 Sanne Fund Services (UK) Limited (Company Secretary)           020 3327 9720

Notes to editors

 

About Octopus Renewables Infrastructure Trust

 

Octopus Renewables Infrastructure Trust plc is a closed-ended investment
company incorporated in England and Wales focused on providing investors with
an attractive and sustainable level of income returns, with an element of
capital growth, by investing in a diversified portfolio of renewable energy
assets in Europe and Australia.

 

Further details can be found at www.octopusrenewablesinfrastructure.com
(http://www.octopusrenewablesinfrastructure.com)

 

About Octopus Renewables

 

Octopus Renewables is a specialist clean energy investor. Launched in 2010 its
mission is to accelerate the transition to a future powered by renewable
energy. It has a diverse portfolio of assets with a capacity of over 2.8GW,
making it the largest commercial solar investor in Europe and a leading
investor in onshore wind.

 

Octopus Renewables is also leading the next wave of renewables being built
without government subsidies. There is a significant opportunity to unblock
much needed investment by building bespoke portfolios of renewable assets at
scale, across technologies and countries, to create better outcomes for our
investors.

 

Further details can be found at www.octopusrenewables.com
(http://www.octopusrenewables.com)

 

Neither the content of any website referred to in this announcement nor the
content of any website accessible from hyperlinks is incorporated into, or
forms part of, this announcement.

 

 

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