Octopus Renewables Infrastructure Trust plc
(“ORIT” or the “Company”)
Option to Acquire Two Onshore Wind Projects in Finland
Octopus Renewables Infrastructure Trust plc is pleased to announce that it has entered into a call option agreement for the acquisition of two onshore wind farms in Finland. In connection with the option agreement the Company has paid a deposit of £45 million, which is interest bearing and will be refundable should the acquisition not complete.
The Saunamaa and Suolakangas wind farms have a combined installed capacity of 71.4MW, and are in the final stages of commissioning. The acquisition under the option agreement is expected to take place in late 2021.
These sites form part of the pipeline assets under exclusivity disclosed in the Company’s prospectus dated 10 June 2021, and are currently owned by an entity for which the Company’s investment manager, Octopus Renewables Limited, provides asset management services.
Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc, commented:
“We are delighted to announce our first transaction in Finland with this option agreement over the Saunamaa and Suolakangas sites, which will add further geographic and technological diversification to our portfolio.”
Chris Gaydon, Investment Director at Octopus Renewables, commented:
“We are really pleased to announce the Company’s plans to acquire these wind projects in Finland, especially due to their near-term completion, contributing two high quality, income generating assets to the portfolio. We look forward to updating the market on the progression of the option agreement in due course.”
