Net Asset Value and Factsheet

RNS Number : 0469O

Octopus Renewables Infra Trust PLC

05 February 2021

 

5 February 2021

LEI: 213800B81BFJKWM2JV13

Octopus Renewables Infrastructure Trust plc

("ORIT" or the "Company")

Net Asset Value and Factsheet

The Board of Octopus Renewables Infrastructure Trust plc (the "Company" or "ORIT") announces that the unaudited net asset value ("NAV") of the Company as at 31 December 2020 on a cum-income basis was £343.9 million or 98.26 pence per ordinary share.

The Company's unaudited NAV per ordinary share has increased by 1.05 pence per share since 30 September 2020. This increase has been driven by an increase in the value of the Company's portfolio of assets, offset by the Q3 dividend paid in November 2020 and Company expenses.

Key drivers of the increase in valuation include:

-  Increase in the valuation of the Ljungbyholm wind farm investment in Sweden, as construction was materially de-risked through the completion of all foundation works for the twelve wind turbines;

-  An increase in power price forecasts, particularly in the short term; and

-  Locking in pricing on the UK operational solar portfolio, where power prices are now fixed until the end of September 2022 on seven of the eight sites, and until March 2022 on the eighth. The associated reduction of revenue risk and the effect of the prices having been fixed at a level consistent with the increase in forward market rates over the quarter have led to a valuation increase.

Factsheet

The Company's Q4 2020 factsheet is available to download at: https://octopusrenewablesinfrastructure.com/investors/

Notice of Results

The Company's audited results for the period from incorporation to 31 December 2020 will be published in March 2021.

For further information please contact:

Octopus Investments Limited (Investment Manager) Matt Setchell, Chris Gaydon, David Bird	Via Buchanan
Peel Hunt (Broker) Liz Yong, Luke Simpson, 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 ) Brian Smith, Tom Daish	020 4513 9260

Notes to editors

About Octopus Renewables Infrastructure Trust

Octopus Renewables Infrastructure Trust plc is a closed end 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. Octopus Investments Limited acts as the Investment Manager to the Company.

Further details can be found at www.octopusrenewablesinfrastructure.com .

About Octopus Renewables

Octopus Renewables, part of Octopus Investments and the wider Octopus Group, is a specialist clean energy investment manager with a mission to accelerate the transition to a future powered by renewable energy. Since 2010, Octopus Renewables has, on behalf of its clients, invested in a diverse portfolio of assets with a capacity of over 2.5GW and is now the largest commercial solar investor in Europe and a leading UK investor in onshore wind. Octopus Renewables is co-led by Matt Setchell and Alex Brierley and has over 70 employees in the UK and Australia.

Further details can be found at 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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