Octopus Renewables Infra Trust PLC Ljungbyholm Wind Farm Update--10 Year PPA Signed (9575T)
30 November 2021 - 6:00PM
UK Regulatory
TIDMORIT
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) Via Buchanan
Matt Setchell, Chris Gaydon, David Bird
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCXKLLLFFLFFBL
(END) Dow Jones Newswires
November 30, 2021 02:00 ET (07:00 GMT)
Octopus Renewables Infra... (LSE:ORIT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Octopus Renewables Infra... (LSE:ORIT)
Historical Stock Chart
From Apr 2023 to Apr 2024