28 February 2025

LEI: 213800B81BFJKWM2JV13

Octopus Renewables Infrastructure Trust plc

("ORIT" or the "Company")

 ORIT signs new five-year term loan facility

Attractive terms agreed with net proceeds to reduce amount drawn on RCF

Octopus Renewables Infrastructure Trust plc, the diversified renewables infrastructure company, announces it has signed a new five-year term loan facility (the "Facility") with three of its existing lenders. The £100 million Facility will be used to pay down a portion of the existing and more expensive Revolving Credit Facility ("RCF") debt.

The Facility comprises equal commitments from Santander, National Australia Bank and Allied Irish Banks and is secured against ORIT's UK onshore wind and solar assets which benefit from a high level of fixed revenues. ORIT has secured an all-in hedged interest rate of 5.3%, representing a material decrease in costs from the existing RCF, which has an all-in rate of approximately 6.5%.

As at today's date, the Company had drawn £151.2 million on the RCF, a portion of which will be paid down using the net proceeds from the Facility, reducing the drawn amount to c.£53 million.

In addition, the Company is currently in the process of extending the tenor of the RCF and reducing its commitment size from £270.8 million in order to decrease commitment fees and further reduce costs.

Phil Austin, Chair of Octopus Renewables Infrastructure Trust plc, commented:

"This new facility demonstrates ORIT's ongoing commitment to reducing overall debt costs, enabled by the attractive terms secured by the Investment Manager against the high level of fixed revenue from these UK assets. The Company continues to examine further measures it can take to reduce costs and drive value for shareholders."

Notes to editors 

About Octopus Renewables Infrastructure Trust 

Octopus Renewables Infrastructure Trust ("ORIT") is a London-listed, 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. As an impact fund, ORIT is helping accelerate the transition to net zero by investing in green energy, whilst also contributing to a broader set of UN Sustainable Development Goals through its impact initiatives. ORIT's investment manager is Octopus Energy Generation.   

Further details can be found at www.octopusrenewablesinfrastructure.com  

About Octopus Energy Generation 

Octopus Energy Generation is driving the renewable energy agenda by building green power for the future. Its specialist renewable energy fund management team invests in renewable energy assets and broader projects helping the energy transition, across operational, construction and development stages. The team was set up in 2010 based on the belief that investors can play a vital role in accelerating the shift to a future powered by renewable energy. It has a 14-year track record with approximately £6.7 billion of assets under management (AUM) (as of 30 September 2024) across 19 countries and total 4.5GW. These renewable projects generate enough green energy to power 2.6 million homes every year, the equivalent of taking over 1.4 million petrol cars off the road. Octopus Energy Generation is the trading name of Octopus Renewables Limited. 

Further details can be found at www.octopusenergygeneration.com