Octopus Renewables Infrastructure Trust has refinanced a portfolio of solar farms in France totalling almost 120MW.
The new €125.7m fully amortising debt facility has been provided by Allied Irish Banks, Societe Generale and La Banque Postale.
It extends the maturity date of the financing by over five years to December 2038 and reduces ongoing interest costs.
The portfolio consists of 14 fully operational solar assets with a total installed capacity of 119.5MW.
Global law firm Ashurst has advised the banks on the refinancing.
The Ashurst Paris team was led partner Mark Barges, assisted by senior associate Ghita Bennis, project finance associates Alix Damecour and Isabelle Renninger, and expertise counsel Emmanuelle Leroy.
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. Octopus Investments Limited acts as the Investment Manager to the Company. About Octopus Renewables Octopus Renewables, part of Octopus Investments and the wider Octopus Group, is a specialist clean energy investment manager with a mission to accelerate the transition to a future powered by renewable energy. Since 2010, Octopus Renewables has, on behalf of its clients, invested in a diverse portfolio of assets with a capacity of over 2.5GW and is now the largest commercial solar investor in Europe and a leading UK investor in onshore wind. Octopus Renewables is co-
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. Octopus Investments Limited acts as the Investment Manager to the Company. About Octopus Renewables Octopus Renewables, part of Octopus Investments and the wider Octopus Group, is a specialist clean energy investment manager with a mission to accelerate the transition to a future powered by renewable energy. Since 2010, Octopus Renewables has, on behalf of its clients, invested in a diverse portfolio of assets with a capacity of over 2.5GW and is now the largest commercial solar investor in Europe and a leading UK investor in onshore wind. Octopus Renewables is co-led by Matt Setchell and Alex Brierley and has over 70
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This is the third in a series of articles investigating growth sectors, developing technologies and niche themes that adventurous private investors can back in their Isas – and how they might do so. The previous one, on open-ended funds in the environmental sector, is here.
The UK s energy mix is in the process of transitioning from coal and gas towards renewables and has been for some time. During the first quarter of 2020, 47 per cent of the UK s electricity generation came from wind and solar.
When all sources of renewables are included, such as biomass and hydro, the forecast is for around 80 per cent of our power to come from renewables by 2040.