TIDMORIT
RNS Number : 5642T
Octopus Renewables Infra Trust PLC
26 March 2021
26 March 2021
LEI: 213800B81BFJKWM2JV13
Octopus Renewables Infrastructure Trust plc
("ORIT" or the "Company")
Investment Management Update
The board of Octopus Renewables Infrastructure Trust plc (the
"Board") notes today's press release by Octopus Energy Group
regarding its proposed acquisition of Octopus Renewables, which is
subject, amongst other things, to regulatory approval.
The Board has been in active discussions with Octopus in
relation to this transaction and notes that there will be no change
to Octopus Renewables' leadership or people, and specifically,
ORIT's investment management team will remain the same and service
levels will be uninterrupted by the transaction.
The Company will make a further announcement on completion of
the acquisition, which is currently expected to occur in June
2021.
For further information please contact:
Octopus Investments Limited (Investment Manager) Via Buchanan
Matt Setchell, Chris Gaydon, David Bird
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 ) 020 4513 9260
Appendix: Additional Information
The Company's alternative investment fund manager is Octopus AIF
Management Limited (the "AIFM"). The AIFM is contracted to provide
portfolio and risk management services to the Company, and
currently delegates portfolio management to Octopus Investments
Limited ("Octopus Investments"), the Company's current investment
manager. Octopus Renewables currently forms part of Octopus
Investments.
Following completion of the proposed transaction Octopus AIF
Management Limited will remain the AIFM of the Company and will
delegate portfolio management to Octopus Renewables Limited, as the
Company's new investment manager.
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 across Europe and Australia 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. Its domestic energy arm already
serves 2 million customers with cheaper greener power. 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.
All of these are made possible by Octopus Energy Group'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, Germany, New Zealand, Australia, and Japan,
Octopus Energy Group's mission to drive the affordable green
revolution is going global.
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