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QuotedData’s morning briefing 18 November 2021

In QuotedData’s morning briefing 18 November 2021:

  • Octopus Renewables (ORIT) says that construction has started at its Cumberhead wind farm. The Cumberhead project, which is expected to be fully operational by Q4 2022, is a 50MW onshore wind farm located in South Lanarkshire, Scotland, and will consist of 12 Nordex N133 turbines and have an initial expected operating life of 25 years. The total cost (including deferred consideration) and the subsequent construction costs is expected to be up to approximately £75m. The power produced will be sold under a power purchase agreement to Kimberley Clark (think Andrex, Kleenex and Huggies). Once operational, the Cumberhead Project is expected to provide 160,000 MWh of electricity, nearly 80% of the electricity needed to manufacture Kimberley Clark’s products in the UK.
  • Schroder BSC Social Impact (SBSI) raised £10.8m from its placing and will issue 10,316,586 new shares at 105p. [The company was looking for £26m and we feel that it’s a real shame that it didn’t manage to raise all of it. Hopefully, there’ll be more chances in the future.]
  • Hibernia REIT (HBRN) has posted half-year results to the end of September 2021, which saw its EPRA net tangible assets (NTA) remain flat at 172.5 euro cents. Its portfolio saw a modest gain of 0.4% in the period and is now valued at €1,450.4m. EPRA earnings were 3.2 cents (March 21: 3.3c) and it paid dividends of 2.0 cents.

We also have news of new investments by Schroder UK Public Private and 3i Infrastructure and a proposed fund raise by LondonMetric.

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