10 May 2024
LEI: 213800B81BFJKWM2JV13
Octopus Renewables
Infrastructure Trust plc
("ORIT"
or the "Company")
Update Regarding Potential
Combination
On 26 February 2024, ORIT confirmed
its participation in the process being run by Aquila European
Renewables plc ("AERI") to consider a potential combination
pursuant to section 110 of the Insolvency Act 1986 (the "Section
110 Review").
Further to the announcement
published by AERI today that it has terminated the Section 110
Review, the Board of ORIT confirms that the Company is no longer
considering a possible combination of ORIT and AERI.
As announced on 25 March 2024 in the
Company's financial results for the 12 months ended 31 December
2023, ORIT continues to focus on its strategic capital recycling
programme, with further capital recycling initiatives in progress
and expected to be announced in the coming months. The strategic
capital recycling programme has generated net proceeds of £97
million to date through profitable disposals of investments in
Poland and Spain, allowing the Company to react to changing market
conditions, as well as provide further options for capital
allocation.
For further information
please contact:
Octopus Energy Generation
(Investment Manager)
Chris
Gaydon, David Bird
|
Via
Buchanan
|
|
|
Peel Hunt (Financial Adviser
and Broker)
Liz Yong,
Luke Simpson, Huw Jeremy (Investment Banking)
Michael
Nicholson, Ed Lowe, Ed Beazley (M&A)
|
020 7418
8900
|
|
|
Buchanan (Financial
PR)
Charles
Ryland, George Beale, Sam Adams
|
020 7466
5000
|
|
|
Apex Listed Companies
Services (UK) Limited (Company Secretary)
|
020 3327
9720
|
|
|
Notes to
editors
About Octopus Renewables Infrastructure
Trust
Octopus Renewables Infrastructure
Trust ("ORIT") is a premium-listed, 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. As an impact
fund, ORIT is helping accelerate the transition to net zero by
investing in green energy, whilst also contributing to a broader
set of UN Sustainable Development Goals through its impact
initiatives. ORIT's investment manager is Octopus Energy
Generation.
Further details can be found
at www.octopusrenewablesinfrastructure.com
About Octopus Energy Generation
Octopus Energy Generation is driving
the renewable energy agenda by building green power for the future.
Its specialist renewable energy fund management team invests in
renewable energy assets and broader projects helping the energy
transition, across operational, construction and development
stages. The team was set up in 2010 based on the belief that
investors can play a vital role in accelerating the shift to a
future powered by renewable energy. It has a 13-year track record
with approximately £6.7 billion of assets under management (AUM)
(as of 31 December 2023) across 19 countries and total 3.7GW. These
renewable projects generate enough green energy to power 2.4
million homes every year, the equivalent of taking over 1.4 million
petrol cars off the road. Octopus Energy Generation is the trading
name of Octopus Renewables Limited..
Further details can be found
at www.octopusenergygeneration.com
Other notices
Peel Hunt LLP ("Peel Hunt"), which
is authorised and regulated by the Financial Conduct Authority in
the UK, is acting exclusively for ORIT and no one else in
connection with the matters described in this announcement and will
not be responsible to anyone other than ORIT for providing the
protections afforded to clients of Peel Hunt nor for providing
advice in connection with the matters referred to herein. Neither
Peel Hunt nor any of its subsidiaries, branches or affiliates owes
or accepts any duty, liability or responsibility whatsoever
(whether direct or indirect, whether in contract, in tort, under
statute or otherwise) to any person who is not a client of Peel
Hunt in connection with this announcement, any statement contained
herein or otherwise.