The Octopus Renewables Infrastructure Trust (ORIT) has announced plans to raise approximately £100 million through a proposed issue of further ordinary shares. This would enable the investment manager to target continued expansion of its diversified portfolio across different jurisdictions and different technologies. It has identified a number of renewable energy assets with an aggregate value of approximately £1.3 billion that would meet the company’s investment policy and are therefore suitable for acquisition. These assets are located in the UK, as well as in Germany, Ireland, Poland, Sweden and Finland. ORIT has undertaken preliminary due diligence in relation to this pipeline of assets, and made non-binding offers. The pipeline has a value of approximately £256 million under exclusivity to the company. Of this, 71MW are held in Octopus Managed Funds.
Solar Power Portal 10th June 2021 read more »