Net Asset Value and Factsheet

RNS Number : 3246H

Octopus Renewables Infra Trust PLC

03 August 2021

 

3 August 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 30 June 2021 on a cum-income basis was £340.6 million or 97.31 pence per ordinary share.

The Company's unaudited NAV per ordinary share has decreased marginally by 0.08 pence per share compared to 31 March 2021. This small reduction was driven primarily by Company expenses and long-term inflation forecasts in the UK (-0.7p per ordinary share). Long term power price forecasts for the UK and France reduced (-0.9p per ordinary share), offset by improved short term pricing in Sweden.

These movements were offset by a 0.4% reduction in unlevered discount rates for UK solar which are supported by market pricing observed on multiple recent transactions. In addition, since the completion of construction of the Ljungbyholm wind farm in Sweden which is now fully operational, the remaining construction risk premium has now been removed. The net effect of these discount rate changes is 1.0p and 0.3p per ordinary share, respectively. Other movements net off to an impact of +0.1p per ordinary share.

The Company's NAV as at 30 June 2021 is stated prior to the Company's recent fundraise which completed in July 2021.

Factsheet

The Company's Q2 2021 factsheet is available to download at: https://octopusrenewablesinfrastructure.com/investors/

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 ) 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.

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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