Octopus Renewables Infrastructure Trust (ORIT)

Sector:

Investment Firms

Index:

FTSE 250

72.30p
   
  • Change Today:
      0.20p
  • 52 Week High: 103.60
  • 52 Week Low: 71.50
  • Currency: UK Pounds
  • Shares Issued: 564.93m
  • Volume: 143,277
  • Market Cap: £408.44m
  • RiskGrade: 98

Octopus Renewables acquiring France solar portfolio

By Josh White

Date: Friday 31 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Octopus Renewables Infrastructure Trust has signed a share purchase agreement for the acquisition of a 100% interest in a portfolio of operational solar photovoltaic assets across France, it announced on Friday, for cash consideration of €58.9m (£53.4m).
The London-listed firm said the portfolio consists of 14 fully operational solar photovoltaic assets, with a total installed capacity of 119.5MW, which all benefit from feed-in-tariffs under the French 2011 Tariff Order and 2011 Call for Tenders regimes, for 100% of their output.

It said the assets began operating between 2013 and 2015 and, at the time of signing, have an average of 12.7 years remaining under the feed-in-tariff contracts, and an average remaining life of 27.3 years.

The portfolio, which has €99m of existing project finance from Hamburg Commercial Bank, was being acquired from one of the renewable funds that Samsung Securities has invested in, and a minority investor.

Octopus said it would receive the economic benefit of all cash flows from the portfolio from 1 January 2020.

"I am delighted to announce the acquisition of this portfolio of subsidised French solar farms, expected to produce enough electricity to power the equivalent of 48,000 French homes annually," said chairman Phil Austin.

"With this acquisition we have now committed around 75% of the funds raised at initial public offering, and have opened up a third market for ORIT, marking a further step towards building a diversified portfolio of renewable energy assets.

"It is particularly pleasing that the Octopus Renewables team have been able to continue originating and transacting on high quality deal flow throughout the Covid crisis."

At 0921 BST, shares in Octopus Renewables Infrastructure Trust were down 1.14% at 113.2p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ORIT Market Data

Currency UK Pounds
Share Price 72.30p
Change Today 0.20p
% Change 0.28 %
52 Week High 103.60
52 Week Low 71.50
Volume 143,277
Shares Issued 564.93m
Market Cap £408.44m
RiskGrade 98

ORIT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
6.76% below the market average6.76% below the market average6.76% below the market average6.76% below the market average6.76% below the market average
45.95% above the sector average45.95% above the sector average45.95% above the sector average45.95% above the sector average45.95% above the sector average
Price Trend
51.43% below the market average51.43% below the market average51.43% below the market average51.43% below the market average51.43% below the market average
85.59% below the sector average85.59% below the sector average85.59% below the sector average85.59% below the sector average85.59% below the sector average
Income
40.91% above the market average40.91% above the market average40.91% above the market average40.91% above the market average40.91% above the market average
90.22% above the sector average90.22% above the sector average90.22% above the sector average90.22% above the sector average90.22% above the sector average
Growth
8.94% above the market average8.94% above the market average8.94% above the market average8.94% above the market average8.94% above the market average
7.59% above the sector average7.59% above the sector average7.59% above the sector average7.59% above the sector average7.59% above the sector average

ORIT Dividends

  Latest Previous
  Q4 Q3
Ex-Div 08-Feb-24 16-Nov-23
Paid 23-Feb-24 01-Dec-23
Amount 1.45p 1.45p

Trades for 28-Mar-2024

Time Volume / Share Price
10:16 4,675 @ 71.95p
10:13 277 @ 71.95p
10:08 1 @ 72.03p
10:06 3 @ 72.03p
10:02 2 @ 72.03p

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