Overview
Octopus Renewables Infrastructure Trust aims to provide investors with attractive and sustainable dividends, alongside capital growth. The company will seek to achieve its investment objective through investment in renewable energy assets in Europe and Australia, comprising (i) predominantly assets which generate electricity from renewable energy sources, with a particular focus on onshore wind farms and photovoltaic solar, and (ii) non-generation renewable energy related assets, in each case either already operating, in construction or construction ready (the latter two categories must have the required grid access rights, land consents, planning and regulatory consents in place.
Investments located in the UK will represent less than 50 per cent. of gross asset value and investments in any single country other than the UK will represent no more than 40 per cent. of gross asset value. Investment in onshore wind farms are limited to 60 per cent. of GAV and so is investment in solar.
You can access the trust’s website here
Fundamentals
Price
Research History
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20 Sep 2024 1 min read
QuotedData’s Weekly News Show Special: New government, new opportunities
On Friday’s show, James Carthew covered the week’s top stories and hosted a panel discussion between David Bird from Octopus Renewable Infrastructure Trust, Neil Hermon from Henderson Smaller Companies Trust, Georgina Brittain from JPMorgan UK Small Cap Growth & Income and Duncan Ball from BBGI Global Infrastructure. If you were looking for the first part […]
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06 Apr 2023 82 min read
QuotedData’s Economic and Political Monthly Roundup April 2023
Economic and Political Monthly Roundup Investment companies | Monthly | April 2023 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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03 Mar 2023 1 min read
Interview with David Bird from Octopus Renewables Infrastructure Trust
In this week’s show, James Carthew spoke to David Bird from Octopus Renewables Infrastructure Trust. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us on [email protected]. Additionally, if you […]
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13 Oct 2022 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2022
Third quarter of 2022 Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Piling on the misery In the face of rising inflation, exacerbated by the war in Ukraine, central bankers have condemned for their relative inaction. However, in the third quarter of 2022, they stepped up a gear. Last month’s economic and political roundup […]
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06 Oct 2022 111 min read
QuotedData’s Economic and Political Monthly Roundup October 2022
Economic and Political Monthly Roundup Investment companies | Monthly | October 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to […]
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09 Oct 2020 1 min read
Interview with Octopus Renewables Infrastructure
In this week’s show, James Carthew talked to Matt Setchell and David Bird of Octopus Renewables Infrastructure Trust. Watch it again here If you were looking for James Carthew’s roundup of the week’s news, this is now in the news section – just click here If there is a guest speaker you’d particularly like to hear from, please […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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10 Jan 2020 5 min read
QuotedData’s investment companies roundup – January 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Income Events New research Here is a list of research we published over December: An update note on BlackRock Throgmorton (THRG) “BlackRock Throgmorton continues to lead its peer group in […]
News
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17 Oct 2024 1 min read
QuotedData’s morning briefing 17 October 2024 – ORIT
In QuotedData’s morning briefing 17 October 2024: Octopus Renewables Infrastructure Trust (ORIT) has completed the purchase of a newly constructed 42MW solar farm located close to Dublin, Ireland. Together with the four nearby operational solar farms bought earlier this year, the five-site solar complex now totals 241MW (the largest solar complex in Ireland) and will […]
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16 Sep 2024 3 min read
QuotedData’s morning briefing 16 September 2024 – JLEN, ORIT, HGT, BHMG
In QuotedData’s morning briefing 16 September 2024: Edward Warner, Chair of JLEN Environmental Assets, has purchased 15,000 JLEN shares at 95.46p per share, taking his holding to 75,000 JLEN shares. Octopus Renewables Infrastructure (ORIT) has published its interim results for the six months ended 30 June 2024. During the period, ORIT provided an NAV total […]
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30 Aug 2024 1 min read
QuotedData’s weekly news show 30th August 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, Matthew Read covered the week’s top stories: Renewables/infrastructure (0:39, 2:25) Octopus Renewables Infrastructure (1:18) ATS/INOV – Reaction engines (4:34) PRS REIT – Requisition request (5:58) This week’s interview was with James Harries from STS Global Income & Growth Trust – watch […]
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28 Aug 2024 1 min read
QuotedData’s morning briefing 28 August 2024 – API, ORIT, RMII
In QuotedData’s morning briefing 28 August 2024: abrdn Property Income Trust (API) has sold Bastion Point, a single-let industrial unit in Dover that is let to the Secretary of State for Housing Communities and Local Government, for £9.475m. The sale price is in line with the end June 2024 valuation but 4.8% below the end […]
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18 Jul 2024 1 min read
Octopus Renewables sells Swedish wind farm
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 […]
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07 Jun 2024 1 min read
QuotedData’s weekly news show 7th June 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: • Gresham House Energy Storage (0:32) • Octopus Renewables Infrastructure (10:14) • Hipgnosis (12:35) Andrew McHattie from The Investment Trust Newsletter (13:45) This week’s interview was with Olivia Macdonald from Majedie Investments […]
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04 Jun 2024 2 min read
Octopus Renewables Infrastructure Trust launches £10m buyback, rethinks debt
In 2023, Octopus Renewables Infrastructure Trust launched a capital recycling programme. In December 2023 the trust completed the sale of the Krzecin and Kuslin wind farms (totalling 59MW) in Poland, realising net proceeds of about £92m (7% of the total value of all investments as at 30 September 2023) – a 21% premium over the […]
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03 May 2024 1 min read
QuotedData’s weekly news show 3rd May 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Aberforth Split Level Income (0:33) • Chrysalis (6:24) Andrew McHattie highlighted a number of funds that were looking unusually cheap or expensive (10:24). This week’s interview […]
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24 Apr 2024 2 min read
QuotedData’s morning briefing 24 April 2024 – APAX, ORIT, CAT, CATC, GRID, OCI
In QuotedData’s morning briefing 24 April 2024: Apax Global Alpha (APAX) is investing about €8m (through its investment in Apax Digital II) into IANS, “a leading provider of tech-enabled research and advisory services in the information security industry”. The transaction is expected to close in Q2 2024. Octopus Renewables Infrastructure (ORIT) has signed a power […]
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25 Mar 2024 2 min read
Octopus Renewables announces double-digit dividend growth
Octopus Renewables Infrastructure Trust (ORIT) has released its results for the 12 month period ending 31 December 2023. Over those 12 months ORIT generated a NAV total return of 2.1%, and a negative share price total return of (4.4%) due to its widening discount. ORIT’s total NAV decreased from £618m to £599m during the year, […]
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02 Feb 2024 1 min read
Octopus Renewables Infrastructure acquires four solar farms near Dublin
Octopus Renewables Infrastructure Trust (ORIT) has acquired four newly-constructed solar farms located close to Dublin, Ireland for a total cost of €160m. The solar complex totals 199MW and was acquired from Statkraft Ireland Limited, which developed and constructed the projects under ORIT’s oversight. Following the acquisition, ORIT’s total capacity of operational renewable energy assets reaches […]
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19 Jan 2024 2 min read
QuotedData’s morning briefing 19 January 2024 – ORIT, VNH, SYNC
In QuotedData’s morning briefing 19 January 2024: Octopus Renewables Infrastructure Trust (ORIT) has announced that it has terminated its option to acquire 175MW of ready-to-build solar projects in Spain. ORIT originally entered into a conditional acquisition agreement over the sites in 2020, but having reassessed the projects “on a risk-adjusted basis” and taking into account […]
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18 Jan 2024 1 min read
QuotedData’s morning briefing 18 January 2024 – ORIT, ARR, NRR
In QuotedData’s morning briefing 18 January 2024: Octopus Renewables Infrastructure Trust (ORIT) is targeting a total dividend of 6.02p for the current calendar year, up 4% from 2023’s 5.79p. The increase matches UK inflation as measured by CPI, making it three years in a row that it has increased dividends by UK inflation [although the […]
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22 Dec 2023 3 min read
QD – review of the year
This is the last of our weekly emails for 2023. We hope that you have been finding them useful. We will be publishing our annual roundup in January. Ahead of that however, I thought it might be worth pulling out a few of the year’s highs and lows. In January, China’s market shone as hopes […]
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3 min read
Octopus Renewables Infrastructure proposes merger with Aquila European Renewables
Octopus Renewables Infrastructure Trust (ORIT) and Aquila European Renewables (AERI) have made announcements in relation to proposals for a merger between the two companies that could create one of the largest LSE listed diversified renewable energy investment trusts. However, in its response, AERI, says that the proposals from ORIT were unsolicited and that “together with […]
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13 Dec 2023 2 min read
QuotedData’s morning briefing 13 December 2023 – TENT, ORIT, SHRS, AEIP, WKP
In QuotedData’s morning briefing 13 December 2023: Triple Point Energy Transition (TENT) announced its interim results for the six months ended 30 September. The company’s NAV fell 4.3% while shares fell 22% as the discount widened to over 40% at last close. In light of the stubborn discount the company has announced that an orderly […]
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06 Oct 2023 4 min read
QD view – Are some investment trust discounts now detached from reality?
For those that joined our annual investment trust forum yesterday, either via the online live-stream or in person, the discounts to net asset value (NAV) that are currently prevailing within the sector, most notably in the alternative income subsectors although very few areas have been left unscathed, were a big part of the discussion. David […]
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1 min read
QuotedData’s weekly news update 6th October 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Henderson High Income / Henderson Diversified Income (0:40) • Pershing Square (7:16) • Octopus Renewables (10:00) Andrew McHattie spoke about Regional REIT and Digital […]
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2 min read
Octopus Renewables Infrastructure agrees Polish wind farm sales at 14-19% premium
Octopus Renewables Infrastructure Trust (ORIT) has entered into a conditional agreement to sell its Krzecin and Kuslin onshore wind farms in Poland to an affiliate of ORLEN S.A. On completion of the Transaction, ORIT expects to receive net proceeds, following the repayment of asset level debt and termination of hedging arrangements, of between PLN 470m […]
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31 Jul 2023 1 min read
Octopus Renewables backs UK solar and battery storage developer
Octopus Renewables Infrastructure has agreed to invest up to £2m to set up and fund a new development business, focused on creating new ground-mounted solar PV and co-located battery storage assets in the UK. The trust will own 100% of the new company, which will benefit from exclusive development services from BLC Energy Limited (BLCe). […]
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31 May 2023 1 min read
QuotedData’s morning briefing 31 May 2023
Taylor Maritime Investments (TMI/TMIP) Limited announced the appointment of Henry Strutt as non-executive chair of the company with effect from 1 June 2023. Strutt brings extensive financial services experience from his time spent in senior positions at several financial institutions, including Robert Fleming Group of Companies, Smith & Williamson, and Harrods Bank. He also has […]
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12 May 2023 1 min read
QuotedData’s weekly news show 12th May 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Reed and Richard Williams covered the week’s top stories: Update on Renewables Octopus Renewables Infrastructure (1:30) Bluefield Solar (6:13) NextEnergy Solar (7:18) HydrogenOne (9:36) US Solar no longer up for sale […]
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09 May 2023 3 min read
QuotedData’s morning briefing 9 May 2023
RTW Venture Fund Limited (RTW) provided an update for one of its portfolio companies, Acelyrin which announced an up-sized $540 million initial public offering and admission to trade on the Nasdaq Global Market under ticker “SLRN”. Acelyrin is a late-stage clinical biopharma company focused on accelerating the development and delivery of transformative medicines in immunology. […]
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06 Apr 2023 1 min read
ORIT backs green hydrogen
Octopus Renewables Infrastructure Trust has agreed to invest up to £5m into HYRO Energy Limited, a new joint venture between the trust (co-invested alongside another fund managed by Octopus Energy Generation, Sky (ORI SCSp) and Renewable Energy Systems. HYRO has been established to develop green hydrogen electrolysis projects in England, Scotland and Wales for industrial […]
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29 Mar 2023 2 min read
Octopus Renewables continues solid start but still work to be done
Octopus Renewables Infrastructure Trust (ORIT) announced its results for the year ended 31 December 2022. The company saw solid growth for the second year running with NAV up 12.3% after returning 9.3% the year prior, with NAV up 25.9% since the IPO in December 2019. The performance of its shares has been less impressive, however, […]
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22 Mar 2023 2 min read
QuotedData’s morning briefing 22 March 2023
JPMorgan Global Core Real Assets (JARA) announced a quarterly NAV and portfolio update for the quarter to 28 February 2023. The company paid a dividend of 1.05 pence per share on 24 February 2023, bringing the share price total return for the quarter to +0.3% and +7.0% for the year, while the total NAV return […]
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03 Mar 2023 2 min read
Octopus Renewables Infrastructure signs 10 year PPA with Iceland Foods
Octopus Renewables Infrastructure Trust (ORIT) has entered into a 10-year power purchase agreement (PPA) for the electricity to be generated at its Breach Solar Farm project with Iceland Foods Limited. Breach is a circa 67 MW solar PV project in Cambridgeshire, UK that ORIT acquired in June 2022. Breach is currently in construction and is […]
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27 Feb 2023 2 min read
QuotedData’s morning briefing 27 February 2023
In QuotedData’s morning briefing 27 February 2023: Life Science REIT (LABS) announces the letting of part of the ground floor of Building One at Oxford Technology Park to Arcturis Data Limited, a healthcare technology company applying advanced analytics and machine learning to generate real-world evidence and novel healthcare insights in both common and rare diseases. […]
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20 Jan 2023 1 min read
QuotedData’s weekly news show 20th January 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Ruffer (0:42) • Octopus Renewables (9:19) This week’s interview was with Stephanie Sirota from RTW Venture Fund – watch it again here.
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1 min read
Octopus Renewables Infrastructure announces dividend target increase of 10.5%
Octopus Renewables Infrastructure Trust (ORIT) has announced its target dividend for the current financial year (ending 31 December 2023) at 5.79p per share. This is an increase of 10.5% over ORIT’s dividend target for the financial year just ended of 5.24p per share. ORIT says it is on track to deliver its target for the […]
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15 Dec 2022 3 min read
Octopus Renewables updates on portfolio and taxes
Octopus Renewables Infrastructure Trust says that construction work on its Cerisou Wind Farm in France has been completed and the site is now fully operational. This onshore wind farm project was acquired in October 2020, construction commenced in mid-2021, and the site started generating power during Q3 2022, in line with expected timelines. The 24MW […]
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17 Nov 2022 1 min read
Octopus Renewables ups stake in floating wind company
Octopus Renewables Infrastructure Trust has invested an additional €6.25m (about £5.5m) into Simply Blue Holdings Limited, the parent company of the Simply Blue Group, an Irish developer of predominantly floating offshore wind projects. Octopus Renewables first invested in Simply Blue in August 2021 taking about a 12% stake. Following this latest investment, Octopus Renewables’s ownership […]
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28 Sep 2022 3 min read
QuotedData’s morning briefing 28 September 2022
In QuotedData’s morning briefing 28 September 2022: AVI Japan Opportunity (AJOT) has published its interim results for the six months ended 30 June 2022. During the period, AJOT provided NAV and share price total returns of -9.74% and -12.81% respectively, both underperforming the trust’s benchmark, the MSCI Japan Small Cap Total Return Index, which returned […]
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16 Sep 2022 2 min read
Octopus Renewables Infrastructure makes onshore and offshore wind investments
Octopus Renewables Infrastructure (ORIT) has announced that it has purchased a further 7.75% ownership interest in the Lincs Offshore Wind Farm from a fund managed by Macquarie Asset Management. This follow-on investment adds to the original 7.75% stake in this wind farm that ORIT acquired in May 2022. Following this transaction, Lincs represents approximately 16% […]
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30 Aug 2022 1 min read
QuotedData’s morning briefing 30 August 2022
In QuotedData’s morning briefing 30 August 2022: Digital 9 Infrastructure’s shares commence trading on the premium segment of the London Stock Exchange with effect from 8 am this morning. Octopus Renewables Infrastructure (ORIT) has announced that its investment manager will be presenting via the Investor Meet Company platform on Wednesday 7 September 2022 at 12pm […]
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12 Aug 2022 1 min read
Octopus Renewables buys stake in Crossdykes windfarm
Octopus Renewables Infrastructure Trust has agreed to buy a 51% ownership interest in the Crossdykes Onshore Wind Farm. The remaining 49% is being acquired by another Octopus managed fund. Crossdykes, located in southern Scotland, was developed by Muirhall Energy and has been operational since June 2021. It is amongst the largest unsubsidised wind farms in […]
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08 Jul 2022 1 min read
QuotedData’s weekly news show 8th July 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Jayna Rana covered the week’s top stories: • Round Hill Music/Hipgnosis Songs • Octopus Renewables Infrastructure • Fundraising HICL Infrastructure Impact Healthcare REIT Digital 9 Infrastructure This week’s interview was with David […]
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04 Jul 2022 2 min read
Octopus Renewables Infrastructure seeks shareholder approval to invest more in offshore wind farms
Octopus Renewables Infrastructure seeks shareholder approval to invest more in offshore wind farms – Octopus Renewables Infrastructure (ORIT) has published a circular containing details of proposed amendments to its investment policy and notice of a general meeting to be held on 28 July 2022. The company has proposed to seek shareholder approval to amend its […]
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17 Jun 2022 2 min read
Octopus Renewables Infrastructure updates on acquisitions and projects
ORIT acquires Breach Solar Farm, Cambridge Octopus Renewables Infrastructure Trust (ORIT) announce the acquisition of Breach Solar Farm, a roughly 68MW ready-to-build solar PV project in Cambridgeshire, UK, from AGR Renewables. The total cost of acquiring and constructing the solar PV project is expected to be approximately £50m. The purchase also gives ORIT the right […]
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27 Apr 2022 1 min read
Octopus Renewables Infrastructure to buy offshore wind farm
Octopus Renewables Infrastructure to buy offshore wind farm – Octopus Renewables Infrastructure (ORIT) has entered into an agreement to acquire a 7.75% ownership interest in the Lincs Offshore Wind Farm. Lincs, located off the east coast of England, has been operational since 2013 and benefits from the UK’s ROC regime, receiving 2 ROCs per megawatt […]
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13 Apr 2022 1 min read
Octopus Renewables backs Finnish renewables developer
Octopus Renewables Infrastructure Trust has committed to invest up to €3.5m to set up and fund Nordic Renewables Limited, a new development platform focused on renewable energy assets in Finland. The investment is made alongside an equal amount from another fund managed by Octopus Renewables Limited. Nordic Renewables Limited will benefit from an exclusive joint […]
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01 Apr 2022 1 min read
QuotedData’s weekly news show 1st April 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: •Octopus Renewables •Fidelity Japan •Pershing Square This week’s interview was with Ian Lance from Temple Bar Investment Trust – watch it again here.
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28 Mar 2022 2 min read
Octopus Renewables Infrastructure chair warns ‘new renewable generation is urgent as ever’
Octopus Renewables Infrastructure chair warns ‘new renewable generation is urgent as ever’ – Octopus Renewables Infrastructure (ORIT) has published its final results for the year to 31 December 2021. During the period, its NAV per share increased from 98.3p to 102.3p. In combination with the dividends paid during the year this gave rise to a NAV […]
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07 Feb 2022 2 min read
QuotedData’s morning briefing 7 February 2022
In QuotedData’s morning briefing 7 February 2022: Tufton Oceanic Assets (SHIP) has sold its containerships Candy and Echidna for a total of $21m. The realised net IRR will be around 74% and realised net MOIC will be around 1.80x. The ships were bought in January last year for $13.75m in total. Octopus Renewables Infrastructure (ORIT) […]
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29 Dec 2021 1 min read
QuotedData’s morning briefing 29 December 2021
In QuotedData’s morning briefing 29 December 2021: Round Hill Music Royalty Fund (RHM) has acquired a significant share of the publishing rights of Niko Moon, the American country singer/songwriter (pictured). The catalogue comprises 29 compositions, including songs performed by Zac Brown Band, Avicii, and Sir Rosevelt, and includes the number one Zac Brown Band hits […]
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24 Dec 2021 2 min read
QuotedData’s morning briefing 24 December 2021
In QuotedData’s morning briefing 24 December 2021: Octopus Renewables Infrastructure Trust (ORIT) has completed its purchase of two onshore wind farms in Finland for about €140m. The Saunamaa and Suolakangas wind farms have a combined installed capacity of 71.4MW, and are in the final stages of commissioning, but the risks associated with the residual construction […]
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03 Dec 2021 1 min read
Octopus Renewables Infrastructure placing and REX Retail Offer raise £74m
Octopus Renewables Infrastructure Trust (ORIT) has announced the results of its placing and REX retail offer that we previously reported on 19 November 2021 (click here to see read coverage of the announcement). ORIT says that it has raised aggregate gross proceeds of approximately £73.9 million (net proceeds of approximately £72.4 million), of which approximately […]
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30 Nov 2021 2 min read
QuotedData’s morning briefing 30 November 2021
In QuotedData’s morning briefing 30 November 2021: Octopus Renewables Infrastructure says that following the completion of construction of the 48MW Ljungbyholm Wind Farm in Sweden and the site becoming fully operational in June 2021, the Company has entered into a Power Purchase Agreement (PPA) over the electricity to be generated at Ljungbyholm. The counterparty to […]
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19 Nov 2021 2 min read
Octopus Renewables Infrastructure announces placing and Rex Retail Offer
Octopus Renewables Infrastructure Trust (ORIT) has announced plans for a placing of up to 70m new ordinary shares, at a price of 105.5 pence per share, to raise gross proceeds of up to approximately £73.9 million. In addition to this placing, there will be an offer on the Peel Hunt Retail Capital Markets ‘REX’, at […]
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18 Nov 2021 1 min read
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 […]
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29 Oct 2021 2 min read
QuotedData’s morning briefing 29 October 2021
In QuotedData’s morning briefing 29 October 2021: EP Global Opportunities (EPG) has announced further details of its tender offer, first announced earlier this week. The board has proposed that the tender will be for up to 20% of the shares of the company and will be at a discount of 2% to net asset value […]
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05 Oct 2021 2 min read
QuotedData’s morning briefing 5 October 2021
In QuotedData’s morning briefing 5 October 2021: Following shareholder approval, BioPharma Credit (BPCR) is transferring to a listing on the Official List of the Financial Conduct Authority and to trading on the Premium Segment of London Stock Exchange’s Main Market. It has also created a sterling line of stock – ticker BPCP – which will […]
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27 Sep 2021 3 min read
QuotedData’s morning briefing 27 September 2021
In QuotedData’s morning briefing 27 September 2021: Seraphim Space (SSIT) has invested $25m into Isotropic Systems, a leading developer of transformational broadband terminal technologies which is looking to redefine satellite communications. Isotropic’s Series B funding round raised more than $35m and other participants included strategic and deep-tech venture capital investors, such as AEI HorizonX, Promus […]
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09 Aug 2021 2 min read
QuotedData’s morning briefing 9 August 2021
In QuotedData’s morning briefing 9 August 2021: Schroder UK Public Private (SUPP) has made a $13.7m investment in neobank, Revolut, as part of the business’ $800m Series E funding round which values it at $3bn. The investment is in line with SUPP’s focus on backing innovative businesses founded in the UK with disruptive innovations, significant global growth potential, […]
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05 Aug 2021 2 min read
QuotedData’s morning briefing 5 August 2021
In QuotedData’s morning briefing 5 August 2021: JPEL Private Equity is returning $85m to investors – using cash it had on its balance sheet and the proceeds of its sale of Swania International. Effectively, this will mean the compulsory redemption of about 42.5m JPEL shares, about 51.5% of the company. The redemption price is based on […]
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26 Jul 2021 2 min read
QuotedData’s morning briefing 26 July 2021
In QuotedData’s morning briefing 26 July 2021 F&C (FCIT) has released its interim report for the six months to 30 June 2021. During this time the NAV total return was 12.3%, ahead of the FTSE All-World index which returned 11.1%. However, the company’s share price total return was slightly behind, at 8.3% – which the board […]
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07 Jul 2021 1 min read
Octopus Renewables Infrastructure raises £150m following increase in issue size
Octopus Renewables Infrastructure (ORIT) has raised £150m through its placing, open offer, offer for subscription, and intermediaries offer. The board increased the issue size from around £100m to around £150m on account of ORIT’s pipeline and demand from investors. Renewables continues to draw in capital Chris Gaydon, investment director at Octopus Renewables (ORIT’s manager), noted: “The team […]
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05 Jul 2021 2 min read
QuotedData’s morning briefing 5 July 2021
In QuotedData’s morning briefing 5 July 2021 – Fair Oaks Income (FAIR) announced that FOIF II LP (Master Fund II) has made two investments in the majority equity of new US CLOs. These investments reinvest the sale proceeds of CLO mezzanine debt which were acquired opportunistically in the spring of 2020. Both new CLOs include ESG-related […]
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01 Jul 2021 3 min read
QuotedData’s morning briefing 1 July 2021
In QuotedData’s morning briefing 1 July 2021 LXi REIT (LXI) has raised gross proceeds of £100m as part of its placing after announcing its intention to raise £75m on 24 June. The placing was significantly oversubscribed and therefore a scaling back exercise was implemented. A further £4m of gross proceeds pursuant to the PrimaryBid offer was […]
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10 Jun 2021 3 min read
QuotedData’s morning briefing 10 June 2021
In QuotedData’s morning briefing 10 June 2021: Octopus Renewables Infrastructure (ORIT) has announced a proposed issue of ordinary shares of 1 pence each, to raise gross proceeds of around £100m. The Issue will be by way of a placing, open offer, offer for subscription and intermediaries offer for a target issue of up to 96,551,724 ordinary shares […]
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03 Jun 2021 1 min read
Octopus Renewables buys Scottish wind farm
Octopus Renewables buys Scottish wind farm – Octopus Renewables Infrastructure Trust has signed a share purchase agreement to acquire 100% of the rights to construct the Cumberhead Wind Farm, a 50MW onshore wind farm located in South Lanarkshire, Scotland. The vendor was RDC Partners LLP. Completion of the acquisition is conditional upon achieving ready-to-build status which […]
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20 Apr 2021 1 min read
QuotedData’s morning briefing 20 April 2021
In QuotedData’s morning briefing 20 April 2021: Octopus Renewables (ORIT) has secured debt finance for the construction, commissioning, operation and maintenance of a wind farm in Cerisou, France. The new €43.2m debt facility is provided by Société Générale. Construction at Cerisou is on schedule to begin in H2 2021, with the project expected to be fully operational in […]
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15 Mar 2021 5 min read
Octopus Renewables Infrastructure reports inaugural annual results
Octopus Renewables Infrastructure (ORIT) announced annual results to 31 December 2020, with the following financial highlights: “ORIT’s IPO took place on 10 December 2019 raising £350m 100% of the net proceeds from IPO are now committed NAV total return of 2.4% over the period since IPO Total shareholder return of 15.9% over the period since […]
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27 Jan 2021 1 min read
Octopus Renewables Infrastructure announces new €125.7m fully amortising debt facility
Octopus Renewables Infrastructure (ORIT) has successfully refinanced its portfolio of operational solar PV assets in France, which was acquired in July 2020. ORIT notes that the new €125.7m fully amortising debt facility, provided by Allied Irish Banks p.l.c., Société Générale and La Banque Postale, extends the maturity date of the financing by over 5 years to […]
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11 Jan 2021 4 min read
Octopus Renewables Infrastructure proposes amendments to its investment policy
Octopus Renewables Infrastructure (ORIT) has announced the publication of a circular to shareholders which includes details of proposed changes to its investment policy (accessible in its entirety by clicking here). ORIT noted the following: “The proposed changes broadly fall into three categories: (i) to allow limited investment, of up to 5% of gross asset value, in […]
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19 Nov 2020 1 min read
QuotedData’s morning briefing 19 November 2020
In QuotedData’s morning briefing 19 November 2020: International Biotechnology reports that an uplift in the value of its stake in SV Fund VI has added $4.8m (£4.0m) or 9.1p per share to its NAV. Octopus Renewables Infrastructure Trust has secured a committed £150m revolving credit facility (RCF) from a group of five lenders. The RCF, provided […]
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30 Oct 2020 1 min read
QuotedData’s weekly news show 30 October 2020
QuotedData’s weekly news show 30 October 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: a crossroads for UK Mortgages an unwelcome tender offer for shares in Alternative Income REIT Augmentum raising £28m […]
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29 Oct 2020 1 min read
Octopus Renewables Buys French wind project
Octopus Renewables Buys French wind project – Octopus Renewables Infrastructure Trust has completed the acquisition of a 100% interest in the Cerisou wind farm, a construction-ready onshore wind project in the Vienne department of France. The project has been acquired from RES SAS, part of the RES Group, a leading worldwide developer, constructor and manager of […]
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01 Oct 2020 2 min read
QuotedData’s morning briefing 1 October 2020
In QuotedData’s morning briefing 1 October 2020: Octopus Renewables Infrastructure Trust is buying four solar PV sites in Andalucia, which are expected to be ready to build by January 2023. The assets will have a total installed capacity of 175MWp and are expected to become operational in early 2024. The company is not taking any development risk […]
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03 Aug 2020 2 min read
QuotedData’s morning briefing 3 August 2020
In QuotedData’s morning briefing 3 August 2020: Fidelity Japan (FJV) reported interim results to 30 June 2020. The trust’s NAV increased by 2.3% in sterling terms, which FJV noted was ahead of its reference index which returned (0.8%) and the average of the peer group which returned 0.7%. Manager, Nicholas Price, notes that: “Japan continues to […]
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31 Jul 2020 2 min read
Octopus Renewables Infrastructure acquires French Solar assets
Octopus Renewables Infrastructure Trust (ORIT) has announced that it has signed an agreement to acquire a 100% interest in a portfolio of operational solar PV assets located across France for a cash consideration of €58.9m (£53.4m). The portfolio consists of 14 fully operational solar PV assets with a total installed capacity of 119.5MW. Following the purchase, ORIT […]
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03 Jul 2020 2 min read
QuotedData’s morning briefing 3 July 2020
In QuotedData’s morning briefing 3 July 2020: Octopus Renewables (ORIT) has provided an update on its progress in deploying the proceeds of its IPO in December 2019. In summary, it has a pipeline of approximately £1.7bn. This includes 333MW of operational and construction ready solar PV projects and construction ready onshore wind projects, located in the […]
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20 Mar 2020 2 min read
Octopus Renewables completes UK solar deal for an initial £144.3m
Octopus Renewables (ORIT) has completed the acquisition of a 100% interest in a portfolio of solar photovoltaic (PV) assets situated across the UK for an initial cash consideration of £144.3m. This portfolio forms part of the pipeline assets disclosed in the company’s prospectus dated 19 November 2019 and was acquired from an entity managed by ORIT’s manager. Today’s […]
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10 Mar 2020 2 min read
Octopus Renewables makes first post-IPO investment with €68m Swedish onshore wind farm deal
Octopus Renewables (ORIT) launched in December 2019, raising a whopping £350m (click here to read more). The company is targeting investment in construction, construction-ready and operational renewable energy infrastructure assets across the UK, wider Europe and Australia. To this end, ORIT has this morning announced its first investment since its IPO, a construction-ready onshore wind farm in Ljungbyholm, Sweden. ORIT […]
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29 Jan 2020 1 min read
Renewable energy funds under attack from brokers
Renewable energy funds under attack from brokers – Shares in many renewable energy funds slumped yesterday as first Chris Brown of JPMorgan and then Matthew Hose of Jefferies said they were overvalued. Their analysis (which we can’t show you and you can’t get hold of unless you work for a large investment firm and pay […]
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16 Jan 2020 1 min read
QuotedData’s other news 16 January 2020
In QuotedData’s other news 16 January 2020 – Bankers Investment Trust (BNKR) has reported annual results to 31 October 2019 with the global sector company delivering a total NAV return of 12.1% (the benchmark FTSE World Index returned 11.7%). BNKR’s chair, Sue Inglis, noted the following in her outlook statement: “Global economic growth remains positive, […]
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06 Dec 2019 1 min read
Octopus Renewables raises whopping £350m
Octopus Renewables raises whopping £350m – Octopus Renewables Infrastructure Trust – a new renewable energy fund targeting onshore wind and solar assets in the UK, Europe and Australia, has smashed through its £250m fundraising target in its IPO and raised a whopping £350m. As such it looks likely to take the crown for the largest […]
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07 Oct 2024 1 min read
When will these high-income investment trusts recover?
by Jennifer Hill from interactive investor, 7th October 2024: For income-seeking investors, the attraction of allocating to traditional infrastructure or renewable energy was clear: long-term, stable revenues that are often government-backed and inflation-linked. However, as interest rates rocketed and demand for alternative sources of income plummeted, these investment trust sectors seriously sold off, causing share prices to plunge […]
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16 Sep 2024 1 min read
Investment trust insider on a shrinking sector
Investment trust insider on a shrinking sector – James Carthew: We might regret what’s lost in the trust bloodbath Four more investment companies – Aquila European Renewables, Ecofin US Renewables, Gulf Investment Fund and Keystone Positive Change – are heading for the exit. The bloodbath in the investment companies sector seems to be getting worse. […]
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17 Jun 2024 1 min read
10 experts name their top investment trust bargain
by Jennifer Hill from interactive investor, 17th June 2024: Discounts are wide across the investment trust universe, giving investors plenty of bargain-hunting potential. The average discount across 288 investment trusts that publish net asset values (NAVs) was -17.7% at the end of May, compared to -5% across 241 trusts five years ago, according to an […]
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18 Mar 2024 1 min read
The income-generating trust sector trading at ‘ridiculous discounts’
Tom Aylott, PORTFOLIO ADVISER, 14 MARCH 2024: Trusts investing in renewables and infrastructure were high in demand a few years ago when the runway for growth was seemingly endless, but it has been quite a different story over the past couple of years. Five years ago, infrastructure trusts were trading on an average premium to […]
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08 Jan 2024 1 min read
Investment trust insider on the deal flurry at the end of 2023
Investment trust insider on the deal flurry at the end of 2023 – James Carthew: Deals flurry shows trust recovery has just begun Merger talks and proposals to liberate capital for share buybacks and investments are clear signs investment companies are pulling away from last year’s bear market. The so-called ‘Santa rally’ over November and […]
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04 Jan 2024 1 min read
How do last year’s investment trust mergers stack up?
by Dave Baxter, Investors’ Chronicle, January 3, 2024: Even the last working day before Christmas was far from short of investment trust news. The board of Octopus Renewables Infrastructure (ORIT) announced an intention to merge with its peer Aquila European Renewables (AERI) on the morning of 22 December… The plan has received a lukewarm response […]
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02 Jan 2024 1 min read
Octopus Renewables Infrastructure proposes merger with AERI
Christian Mayes, Portfolio Adviser, 2 JANUARY 2024: Octopus Renewables Infrastructure (ORIT) is exploring a possible merger with the £257m Aquila European Renewables trust (AERI). In a stock exchange announcement last month (22 December), the Octopus board proposed a combination which would create a £1.6bn renewable energy portfolio… In a separate stock exchange announcement, AERI’s board […]
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23 Dec 2023 1 min read
Octopus goes public with £745m merger bid for smaller rival
Patrick Hosking, Financial Editor, The Times, Saturday December 23 2023: A London-listed specialist in wind and solar farms has sparked a storm in the renewable energy sector with a hostile £745 million bid for a smaller rival. Octopus Renewables Infrastructure Trust disclosed that earlier private approaches to Aquila European Renewables had been rejected three times […]
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22 Dec 2023 1 min read
Octopus Renewables trust makes bid for Aquila European Renewables
James Baxter-Derrington, Investment Week, 22 December 2023: Octopus Renewables investment trust (ORIT) has made several attempts to engage with Aquila European Renewables (AERI) over 2023, in a bid to merge the two vehicles. According to a regulatory filing this morning (22 December), the £506m market cap ORIT has “sought on several occasions” during 2023 to […]
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1 min read
Octopus hopes to swell assets to £1bn with Aquila acquisition
Kathleen Gallagher, Citywire Investment Trust Insider, 22 Dec 2023: Octopus Renewables Infrastructure (ORIT) is determined to bring its net asset value to £1bn through a merger with Aquila European Renewable (AERI) but the board of the latter appears to need some convincing. ORIT, which has a £604m portfolio, said there is ‘compelling logic’ to create […]
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09 Oct 2023 1 min read
James Carthew: I’ve bought DGI9 but I’m voting against Hipgnosis
James Carthew: I’ve bought DGI9 but I’m voting against Hipgnosis It feels sometimes as though an all-pervading gloom has descended on the investment companies’ sector as share price discounts continue to widen. It does not seem to matter how often you point out the illogicality of share prices (as I did in last week’s article), […]
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07 Jun 2023 1 min read
Renewable energy investment trust faces continuation vote
by Sam Benstead from interactive investor, 7th June 2023: The London market’s only Europe-focused renewable energy investment trust faces the risk of being wound up, with investors set to vote on its continuation on 14 June., which was launched in summer 2019, owns solar, hydro and wind renewable energy assets across Europe, with a particular […]
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18 Apr 2023 1 min read
Investment trust insider on discounts
James Carthew: This selloff has gone too far Looking at my portfolio, the past few months have felt a bit frustrating. Investment companies that I am convinced are sound have been derated, sometimes aggressively. Investors seem irrational, perhaps even panicky. Fundamentals are being ignored and sentiment rules all. Fortunately, the bulk of my investments are […]
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20 Dec 2022 1 min read
Falling at the first hurdle
Cherry Reynard, Trustnet Magazine, 20 December 2022: There was widespread optimism in the world of investment trusts at the start of 2022… However, as soon as Russia invaded Ukraine in February, all bets were off. This set off a chain of events, with disruption to commodity markets pushing up inflation, leading to higher interest rates […]
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16 May 2022 1 min read
Are NAV increases on renewable infrastructure trusts here to stay?
Kathleen Gallagher, Investment Week, 11 May 2022: At the beginning of this week (9 May) the JLEN Environmental Assets trust flagged that its Q1 NAV is likely to be 13-15% higher than the end of last year. The trust, and a number of its peers, are sitting on double digit premiums as they benefit from, […]
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15 Nov 2021 2 min read
The alternative trusts allowing investors to capture new trends
Investment trusts enjoy record year for fundraising as they back a new wave of innovation November 11, 2021, Investors Chronicle, By Mary McDougall Investment trust fundraising amounted to £11.4bn in the first 10 months of the year, a record for the ancient fund structure which is now financing a new wave of innovation. Most striking is the […]
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03 Nov 2020 1 min read
Investment trust IPOs: time to buy?
The Big Theme Investment trust IPOs: time to buy? By Dave Baxter, Investors Chronicle With equity markets riding high, investment trust launches are finally making an appearance this year. Home REIT (HOME), a trust that invests in accommodation for the homeless, raised £240m in October and Triple Point Energy Infrastructure Company (TEEC) amassed £100m. Other trusts that have announced plans to float include Round Hill […]
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08 Sep 2020 1 min read
Investment trust insider on new and newish funds
Investment trust insider on new and newish funds – James Carthew: Let’s hope new trusts are more open than recent launches After a long hiatus, the flotation window appears to be opening up. I thought this week I would have a look to see how the last crop of investment company launches – Nippon Active Value […]
