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Octopus Renewables Infrastructure Trust (ORIT) has invested an additional €6.25m into Simply Blue Holdings Limited, the parent company of the Simply Blue Group (SBG), an Irish developer of predominantly floating offshore wind projects.
ORIT first invested in SBG in August 2021 for a c.12% stake - and following this latest investment, ORIT’s ownership interest in SBG has increased to c.15.5%. The Company has also agreed to provide a further investment of up to €6.25m which is expected to be drawn in 2023, and which would increase ORIT’s ownership interest to c.19%. SBG has developed a pipeline of over 10GW of floating offshore wind projects to-date, primarily in the waters of the UK, Ireland and wider Europe as well as the US and Japan. ORIT's investment comes alongside an equal co-investment from another fund managed by Octopus Energy Generation, Sky (ORI SCSp). In total, funds managed by Octopus Energy Generation combined will have a c. 38% stake in SBG.
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