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Octopus Renewables Infrastructure Trust (ORIT) has entered into a conditional agreement to sell the Krzecin and Kuslin onshore wind farms in Poland to an affiliate of Orlen. ORIT acquired the Krzecin and Kuslin wind farms when they were in the construction phase in October 2021.
 
The Company managed the construction of the two wind farms, successfully bringing them into operation in 2022. The two sites have a combined capacity of 59 MW. On completion of the Transaction, ORIT expects to receive net proceeds, following the repayment of asset level debt and termination of hedging arrangements, of between PLN 470 million and PLN 490 million (equivalent to approximately £88 million to £92 million). This represents a 14 to 19% premium over the holding value of the Krzecin and Kuslin wind farms of £77 million as at 30 June 2023. Completion of the Transaction is expected to realise an IRR of 25 to 30% over the lifetime of ORIT’s investment.
 
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