Octopus Renewables Infrastructure Trust has entered into a conditional agreement to sell its Ljungbyholm onshore wind farm in Sweden to a German institutional investor for total consideration of approximately €74m. The sale price is in line with the NAV as at 31 March 2024 and will realise an IRR of approximately 11% over the lifetime of the trust’s investment. The money raised will help repay part of the trust’s short-term debt facility.
Octopus Renewables bought the 48 MW wind farm at pre-construction stage in March 2020, investing about €68m in the project. Octopus Energy Generation (the company’s investment manager) managed the construction phase, bringing the wind farm into operation in June 2021.
This is the latest installment of Octopus Renewables’ capital recycling programme. It follows the sale of two Polish onshore wind assets in December 2023 and the sale of an option over a Spanish solar PV project in January 2024.
Once the deal is done, the capital recycling programme will have generated about £159m, but there is more to come.
ORIT : Octopus Renewables sells Swedish wind farm
