Successful financing of Cerisou Wind Farm

20 April 2021

LEI: 213800B81BFJKWM2JV13

Octopus Renewables Infrastructure Trust plc

("ORIT" or the "Company")

Successful financing of Cerisou Wind Farm

Octopus Renewables Infrastructure Trust plc is pleased to announce that it has successfully secured debt finance for the Company's ready-to-build wind farm in Cerisou, France which was acquired in October 2020.

The new EUR 43.2 million fully amortising debt facility, provided by Société Générale, will fund the construction, commissioning, operation and maintenance of the 24 MW Cerisou project. This debt facility will allow the Company to invest the amounts previously committed to the project into other investment opportunities. Construction at Cerisou is on schedule to begin in H2 2021, with the project expected to be fully operational in H2 2022.

The term loan facility is amortising over 23 years from the commercial operations date of the project, with a flat 1.30% interest margin above EURIBOR over the duration of the loan. 90% of the project's notional interest rate exposure under the term loan has been hedged. Alongside the term loan facility, Société Générale is providing a Debt Service Reserve Facility and a VAT Facility to the project.

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

"The Cerisou project was the Company's first wind farm acquisition in France and is now successfully financed with favourable terms agreed with one of France's leading banks. This facility once again demonstrates the Investment Manager's commitment to an active approach to asset and portfolio management."

Chris Gaydon, Investment Director at Octopus Renewables, commented:

"The competitiveness of the financial and commercial terms achieved with Société Générale will allow the Company to optimise returns and cash yield as well as maximising operational flexibility. The construction of the Cerisou project is on track and we look forward to it being fully operational next year."

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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

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