Ljungbyholm Wind Farm Update-10 Year PPA Signed

RNS Number : 9575T

Octopus Renewables Infra Trust PLC

30 November 2021

 

30 November 2021

LEI: 213800B81BFJKWM2JV13

Octopus Renewables Infrastructure Trust plc

("ORIT" or the "Company")

Ljungbyholm Wind Farm Update - 10 Year PPA Signed

Octopus Renewables Infrastructure Trust plc is pleased to announce that following the completion of construction of the 48MW Ljungbyholm Wind Farm in Sweden ("Ljungbyholm") and the site becoming fully operational in June 2021, the Company has entered into a Power Purchase Agreement (the "PPA") over the electricity to be generated at Ljungbyholm. The counterparty to the PPA (the "Offtaker") is a global manufacturer with a multi-billion dollar valuation that is a Fortune 500 company and a member of the Dow Jones Sustainability World Index.

The PPA provides Ljungbyholm with a 10-year floor price for 100% of its production each year, and will provide the Offtaker with green electricity for its operations in Sweden as part of its ambitions to switch to 100% renewable electricity by 2030.

Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc, commented : "Ljungbyholm Wind Farm was ORIT's first construction project to become operational . This PPA ensures a guaranteed minimum price for generation over the next 10 years, providing sustainable and attractive levels of income whilst allowing ORIT to benefit from periods of higher power prices. As companies look to transfer energy to renewable sources, especially following COP26, PPAs such as this will provide ORIT with long-term visibility for expected revenue generation, ultimately benefitting shareholders."

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 (Investment Banking) Alex Howe, Chris Bunstead, Ed Welsby, Richard Harris (Sales)	020 7418 8900
Buchanan (Financial PR) Charles Ryland, Hannah Ratcliff, George Beale	020 7466 5000
PraxisIFM ( Company Secretary )	020 4513 9260

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

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

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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