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LONDON - Octopus Renewables Infrastructure Trust (ORIT) reported a net asset value (NAV) of £540 million for the first half of 2025, down from £570 million at the end of 2024, primarily due to lower power price forecasts and higher discount rates.
The renewable energy infrastructure company generated 654 GWh of clean electricity during the period, nearly unchanged from 658 GWh in the same period last year. Revenue from the operational portfolio remained stable at £68.7 million, while EBITDA slightly decreased to £44.3 million from £45.3 million in H1 2024.
ORIT declared dividends of 3.08 pence per share for the first half of 2025, in line with its full-year target of 6.17 pence. The company reported that 85% of its revenue is fixed over the next two years, with 47% linked to inflation for the next decade.
As part of its capital allocation strategy, ORIT repurchased 12.3 million shares for £8.5 million during the period at an average price of 66.9 pence per share. The company has continued buybacks after the reporting period, bringing total repurchases to £21.6 million as of September 15.
The company signed a new five-year term loan facility and extended its Revolving Credit Facility to June 2028 while reducing it from £270.8 million to £150 million. These changes lowered the average cost of debt across the portfolio to 3.5% from 4.0% at the end of 2024.
ORIT also announced a strategic plan called "ORIT 2030" aimed at delivering NAV growth and generating medium-to-long-term shareholder returns of 9-11% through capital growth and income. The company targets a net asset value of £1 billion by 2030.
The company’s share price stood at 73.4 pence as of June 30, 2025, up from 68.0 pence at the end of 2024.
Information in this article is based on a press release statement from Octopus Renewables Infrastructure Trust.
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