Octopus Renewables Infrastructure Trust plc has reported today that it has invested £2.5 million
and agreed to provide up to a further £7.5 million in development funding for nine newly formed joint
venture onshore wind farm development companies with Wind 2 Limited (“Wind 2”), a specialist UK
onshore wind developer.
The joint ventures will initially target the development over the next 5-10 years of up to nine onshore
wind farms in Scotland and Wales with a potential combined capacity of approximately 570MW.
ORIT’s investment, which is a co-investment alongside another fund managed by Octopus Renewables
Limited (the “Octopus Managed Fund”), gives ORIT and the Octopus Managed Fund preferential rights
to fund the construction of the projects reaching ready to build stage.
Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc, commented:
“I am pleased to announce this partnership with Wind 2 to develop a significant amount of onshore
wind farm capacity in the UK. This is an exciting move for ORIT which provides an opportunity to
leverage the significant onshore wind development experience of the Wind 2 team and potentially
generate a significant ready to build pipeline in the years to come.”
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