Futures slip, bank earnings ahead, Powell to speak - what’s moving markets
LONDON - Octopus Renewables Infrastructure Trust plc (ORIT) announced Tuesday its five-year strategic roadmap called "ORIT 2030," designed to deliver substantial net-asset-value growth and scale the company to £1 billion by 2030.
The diversified renewables infrastructure company confirmed its 2025 capital allocation commitments remain unchanged, including a £30 million share buyback program (£21.6 million already repurchased), reducing debt to below 40% of Gross Asset Value (currently at 47%), and selling at least £80 million in assets by year-end.
The new ORIT 2030 strategy focuses on four priorities: investing for NAV growth by increasing allocation to construction assets to approximately 20% and maintaining 5% in developer assets; scaling to a £1 billion net asset value through disciplined capital deployment and potential corporate M&A; targeting medium-to-long-term total returns of 9-11% while maintaining a progressive dividend policy; and building approximately 100 MW of new renewable capacity annually.
Additionally, ORIT plans to propose changing its continuation vote cycle from every five years to every three years, with a resolution to be presented at the 2026 AGM. If approved, the next continuation vote would take place at the 2028 AGM.
"ORIT 2030 marks the next phase in the Company’s development," said Phil Austin, Chair of ORIT. "This clear five-year strategy aims to scale ORIT significantly, drive NAV growth through investment into construction and development assets and maintain progressive fully-covered dividends."
The company will present details of the strategy alongside interim results at a Capital Markets Session for analysts and institutional investors, according to the press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.