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Octopus Renewables Infrastructure Trust (ORIT) has announced that it has invested £2.5 million and agreed to provide up to a further £7.5 million in development funding for nine newly formed joint venture onshore wind farm development companies with Wind 2 Limited (Wind 2), a UK onshore wind developer.
The joint ventures will initially target the development over the next 5-10 years of up to nine onshore wind farms in Scotland and Wales with a potential combined capacity of approximately 570MW. ORIT’s investment, which is a co-investment alongside another fund managed by Octopus Renewables Limited (the Octopus Managed Fund), gives ORIT and the Octopus Managed Fund preferential rights to fund the construction of the projects reaching ready to build stage.
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