Octopus Renewables Infrastructure Trust said it has paid £144.3 million ($166 million) for a portfolio of eight operational solar farms in England, totaling 122.8 megawatts. This marks the fund’s second acquisition, following its £350 million ($412.5 million) purchase of the Ljungbyholm wind farm in southern Sweden last week.
The assets in the newest portfolio reached commercial operations between 2013 and 2015 and have an average remaining life of 23.5 years. They are expected to produce enough energy to power 38,000 homes.
Octopus Renewable Infrastructure Trust is a renewables company focusing on shovel-ready solar photovoltaic assets, onshore wind and other assets.
Phil Austin, chairman of Octopus Renewables Infrastructure Trust, said the investment marks a significant step toward building a diversified portfolio of renewable energy asset
