Launch of 'ORIT 2030' strategic roadmap for growth
Summary by AI BETAClose X
23 September 2025
LEI: 213800B81BFJKWM2JV13
Octopus Renewables Infrastructure Trust plc
("ORIT" or the "Company")
Launch of 'ORIT 2030' - A strategic roadmap for growth
Existing capital allocation commitments remain in place for 2025
Core focus on NAV growth through investment into construction and developer assets
A clear plan to create further impact through adding new renewable capacity
Proposing a continuation vote every three years
Octopus Renewables Infrastructure Trust plc, the diversified renewables infrastructure company, today announces the launch of ORIT 2030, a defined five-year strategy designed to deliver substantial net-asset-value ("NAV") growth, scale the company to £1 billion and generate attractive medium-to-long-term shareholder returns. The Board is also recommending that the Company's continuation vote moves to every three years, from the current five-year cycle.
The three core goals of the 2025 Capital Allocation Update in March remain unchanged for this financial year.
2025 Capital Allocation Objectives and Update
1. An extended share buyback programme totalling £30 million
· £21.6 million shares repurchased to 15 September 2025
· Balance to be retained to make further purchases as required
2. A commitment to reduce debt to under 40% of Gross Asset Value ("GAV")
· 47% at 15 September 2025; asset sales anticipated to bring this figure down
· On track to reduce debt to below 40% of GAV by year end
3. A pledge to sell at least £80 million of assets to pay down debt and make a small number of selective investments where they are deemed to be accretive
· Several sales processes advanced; on track to realise the £80m target by year end
· Selective investments made into developers Nordic Generation, BLC Energy, and conditional acquisition of Irishtown
Thereafter the Board and Octopus Energy Generation (the "Investment Manager") will execute ORIT 2030, which is focused on the four strategic priorities set out below:
1. Grow: Invest for NAV growth
· Deploy capital into higher returning investments
o Increase target portfolio allocation to ~20% in construction assets
o Maintain 5% allocation to developer assets
· Accelerate NAV growth through a repeatable process of recycling, investment, improving operational performance and enhancing the value of assets
2. Scale: Build a larger, more investable company
· Target £1 billion net asset value by 2030, to create a more liquid and investable company
· Achieved through disciplined capital deployment and organic NAV growth, alongside potential value-accretive corporate M&A
· Share buybacks as a tool subject to market conditions and capital allocation priorities
3. Return: Deliver attractive risk-adjusted total returns
· Target medium-to-long-term total returns of 9-11% through a combination of capital growth and income
· Maintain existing progressive dividend policy, while preserving full cover
· Prudent balance sheet management, with leverage anchored at <40% GAV with the flexibility to move temporarily above this for value-accretive opportunities and strategic recycling
· Retain diversification across core technologies and geographies
4. Impact: Scale with purpose and resilience
· Aim to build approximately 100 MW of new renewable capacity per annum
· Sustain ORIT's mandate, enabling new clean energy generation and supporting the energy transition
Continuation Vote
In addition to the above, the Board is recommending that the continuation vote moves to a cycle of every three years, from the current five. A resolution to this effect will be put to shareholders at the 2026 AGM and, if approved, the next continuation vote will take place at the Company's 2028 AGM. The change is intended to give shareholders more frequent opportunities to assess the future of the Company, while reinforcing ORIT's commitment to accountability and alignment with investor interests.
Phil Austin, Chair of Octopus Renewables Infrastructure Trust plc, commented: "ORIT 2030 marks the next phase in the Company's development. This clear five-year strategy aims to scale ORIT significantly, drive NAV growth through investment into construction and development assets and - underpinned by resilient cash flows - maintain progressive fully-covered dividends.
"More than 90% of shareholders backed the Company at its continuation vote in June, indicating strong support for ORIT's future, yet it has also been made clear from our active dialogue with investors that they want the Company to become larger, more investable and to stay true to its purpose. ORIT 2030 addresses this directly with a plan that balances yield, growth and impact, ensuring the Company delivers for shareholders, while supporting the energy transition.
"With disciplined capital management and the expertise of our Investment Manager, we believe we are well placed to execute ORIT 2030 and to pursue our ambition of building a £1 billion renewables vehicle by 2030."
Capital Markets Session and Investor Meet Company
The details of ORIT 2030, together with the interim results update, will be presented at today's in-person Capital Markets Session for sell-side analysts and institutional investors in London. A recording of the event will be made available on the Company's website soon after.
Additionally, there will be an online presentation via the Investor Meet Company platform on Wednesday 24 September 2025 at midday for all existing and potential shareholders. Investors who already follow ORIT will automatically be invited. Investors can sign up to Investor Meet Company for free via: https://www.investormeetcompany.com/octopus-renewables-infrastructure-trust-plc/register-investor.
For further information please contact:
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Octopus Energy Generation (Investment Manager) Chris Gaydon, David Bird Charlotte Edgar (Investor Relations)
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Via Burson Buchanan or orit@octopusenergygeneration.com
|
|
Peel Hunt (Broker) Liz Yong, Luke Simpson, Huw Jeremy (Investment Banking) Alex Howe, Chris Bunstead, Ed Welsby, Richard Harris (Sales)
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020 7418 8900 |
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Burson Buchanan (Financial PR) Charles Ryland, Nick Croysdill, Jude Stokes
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020 7466 5000 |
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Apex Listed Companies Services (UK) Limited (Company Secretary) |
020 3327 9720 |
Notes to editors
About Octopus Renewables Infrastructure Trust
Octopus Renewables Infrastructure Trust ("ORIT") is a closed-ended investment company incorporated in England and Wales admitted to the closed-ended investment funds category of the official list and to trading on the London Stock Exchange plc's main market for listed securities, 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. As an impact fund, ORIT is helping accelerate the transition to net zero by investing in green energy, whilst also contributing to a broader set of UN Sustainable Development Goals through its impact initiatives. ORIT's investment manager is Octopus Energy Generation.
Further details can be found at www.octopusrenewablesinfrastructure.com.
About Octopus Energy Generation
Octopus Energy Generation is driving the renewable energy agenda by building green power for the future. Its specialist renewable energy fund management team invests in renewable energy assets and broader projects helping the energy transition, across operational, construction and development stages. The team was set up in 2010 based on the belief that investors can play a vital role in accelerating the shift to a future powered by renewable energy. It has a 14-year track record with approximately £7.0 billion of assets under management (AUM) (as at 30 June 2025) across 21 countries and with a total 4.9 GW of capacity managed. Octopus Energy Generation is the trading name of Octopus Renewables Limited.
Further details can be found at www.octopusenergygeneration.com.
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