Octopus Renewables Infrastructure Trust (ORIT) has made two new offshore wind farm investments in the United Kingdom and Germany.
ORIT has acquired an additional 7.75 percent in the Lincs Offshore Wind Farm in the United Kingdom from a fund managed by Macquarie Asset Management. This follow-on investment adds to the original 7.75-percent stake ORIT acquired in May.
Lincs, located off the east coast of England, has been operational since 2013 and has an installed capacity of 270 megawatts. It is made up of 75 turbines, each 3.6 megawatts, spread across 35 square kilometers (13.5 square miles). Lincs is operated and managed by Ørsted, the largest energy company in Denmark. Following this transaction, Lincs represents approximately 16 percent of ORIT’s portfolio on a gross asset-value basis.
Another fund managed by Octopus Energy Generation also coinvested in a 7.75-percent indirect stake in Lincs as part of this transaction. After this transaction, funds manage