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Octopus Renewables (ORIT)

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Monday 05 July, 2021

Octopus Renewables

Further Investment Management Update

RNS Number : 0849E
Octopus Renewables Infra Trust PLC
05 July 2021
 

5 July 2021

 

LEI: 213800B81BFJKWM2JV13

 

Octopus Renewables Infrastructure Trust plc

 

("ORIT" or the "Company")

 

Further Investment Management Update

 

Further to the Company's announcements on 26 March 2021, 10 June 2021 and 30 June 2021 and the Company's prospectus published on 10 June 2021, the Company has been notified that the acquisition of its Investment Manager, Octopus Renewables Limited, by Octopus Energy Group (the "Octopus Reorganisation") has completed.

 

There is no change to Octopus Renewables' leadership or people as a result of the Octopus Reorganisation, and specifically, the Company's investment management team remains the same and service levels will be uninterrupted.

 

Chris Gaydon, Investment Director at Octopus Renewables, commented:

" In the same way that Octopus Renewables has been driving the energy revolution through its investments in new-build generating capacity, Octopus Energy has been transforming the supply side of the market through its leading technology and customer focused approach. While this transaction has no impact on the day-to-day running of the Company, we are excited about the potential opportunities that this unique pairing will bring, whether that's through de-risking our portfolio; bringing new investment opportunities; or reducing inefficiencies across the energy value chain."

 

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

 

 

Definitions

 

Octopus Capital

 

Octopus Capital Limited

Octopus Energy Group

Octopus Energy Group Limited and its subsidiaries from time to time, including Octopus Renewables Limited

 

Octopus Group

Octopus Capital and its subsidiaries from time to time, including the AIFM and Octopus Investments Limited

Octopus Renewables

a business of Octopus Group that has been transferred to Octopus Energy Group on completion of the Octopus Reorganisation

 

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

 

About Octopus Energy Group

Octopus Energy Group was launched in 2016 with a vision of using technology to make the green energy revolution affordable whilst transforming customer experiences. It is a certified B-corp, and its domestic energy arm already serves 2.2 million customers with cheaper greener power, through Octopus Energy, M&S Energy, Affect Energy, Ebico, London Power and Co-op Energy.

Octopus Energy for Business manages over 25,000 customers with proprietary energy offerings. Octopus Electric Vehicles is helping make clean transport cheaper and easier, and Octopus Energy Services is bringing smart products to thousands of homes. Octopus Energy Generation is Europe's largest investor in solar energy, managing a £3.4bn portfolio of renewable energy assets throughout the continent.

All of these are made possible by OEG's tech arm, Kraken Technologies, which offers a proprietary, in-house platform based on advanced data and machine learning capabilities, Kraken automates much of the energy supply chain to allow outstanding service and efficiency as the world transitions to a decentralised, decarbonised energy system. This technology has been licensed to support over 17 million accounts worldwide, through deals with Good Energy, E.ON energy and Origin Energy.

In December 2020, Octopus Energy Group was valued at over $2 billion after closing its second investment round of the year led by international energy companies Tokyo Gas and Origin Energy. With operations in the US, Japan, Germany, New Zealand and Australia, Octopus Energy Group's mission to drive the affordable green revolution is going global.

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