1 July 2021
Octopus Renewables Infrastructure Trust plc
("ORIT" or the "Company")
48MW Swedish Wind Farm Operational
The Board of Octopus Renewables Infrastructure Trust plc is pleased to announce that construction of the Ljungbyholm Wind Farm in Sweden has been completed and it is now fully operational. This onshore wind farm project was the Company's first investment and was acquired from OX2 in March 2020 as a construction ready project. Construction of the wind farm has been completed on budget and on schedule. The total cost of the acquisition and construction was approximately £59m.
The 48MW wind farm, which is located in the Kalmar province in southern Sweden, consists of 12 4MW Nordex turbines, is expected to produce 150GWh of electricity per year and has an expected operational life of 30 years.
Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc, commented:
"This project was ORIT's first investment and our first construction project. We are delighted that it is now fully operational, having been completed on budget and on schedule - a testament to the skill and experience of our Investment Manager despite the challenges of Covid-19. With the completion of Ljungbyholm, we now have 291MW of operational renewable energy assets in our portfolio, across Sweden, France and the UK, producing long term sustainable income for our shareholders."
Chris Gaydon, Investment Director at Octopus Renewables, commented:
"The Ljungbyholm wind farm is a fantastic project in Sweden, taking advantage of the high levels of wind resource and the latest wind turbine technology. It has been a great experience working with OX2, one of Scandinavia's leading renewable energy developers and Nordex, which supplied and installed the turbines on the site. Investing into new-build renewable energy projects is core to ORIT's investment strategy and contributes towards reducing carbon emissions and the impacts of climate change."
For further information please contact:
| Octopus Renewables Limited (Investment Manager) Matt Setchell, Chris Gaydon, David Bird
| Via Buchanan |
| Peel Hunt (Broker) Liz Yong, Luke Simpson, Huw Jeremy, Tom Pocock (Investment Banking) Alex Howe, Chris Bunstead, Ed Welsby, Richard Harris (Sales)
| 020 7418 8900 |
| Buchanan (Financial PR) Charles Ryland, Kelsey Traynor, Hannah Ratcliff
| 020 7466 5000 |
| PraxisIFM (Company Secretary)
| 020 4513 9260 |
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
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
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