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Simply Blue they have access to renewable energy sources in deeper waters
2023-01-19
Octopus Renewables Infrastructure Trust Plc (LON:ORIT) recently announced its intention to further increase its stake in Irish floating offshore wind projects developer Simply Blue Group. By investing EUR 6.25 million (USD 6.49m), the company's shareholding will now stand at 15.5%, with a potential rise to 19% in 2023, according to statements released on Thursday.
Simply Blue has been busy constructing a 10 GW pipeline of renewable energy sources across UK, Ireland, Europe, US and Japan waters; with additional interests in wave energy and sustainable aquaculture also part of their portfolio.
ORIT initially invested EUR 7.5 million last August to secure 12% of shares and its investment manager, Octopus Energy Generation, now owns a total of 38%. Alongside this, another fund – Sky (ORI SCSp) is co-investing equally.
Chairman Phil Austin has commented on the development saying that through their relationship with Simply Blue they have access to renewable energy sources in deeper waters, at higher wind speeds and diverse locations; providing them with greater diversification opportunities.
Octopus Renewables Infrastructure Trust Plc (LON:ORIT) recently announced its intention to further increase its stake in Irish floating offshore wind projects developer Simply Blue Group. By investing EUR 6.25 million (USD 6.49m), the company's shareholding will now stand at 15.5%, with a potential rise to 19% in 2023, according to statements released on Thursday.
Simply Blue has been busy constructing a 10 GW pipeline of renewable energy sources across UK, Ireland, Europe, US and Japan waters; with additional interests in wave energy and sustainable aquaculture also part of their portfolio.
ORIT initially invested EUR 7.5 million last August to secure 12% of shares and its investment manager, Octopus Energy Generation, now owns a total of 38%. Alongside this, another fund – Sky (ORI SCSp) is co-investing equally.
Chairman Phil Austin has commented on the development saying that through their relationship with Simply Blue they have access to renewable energy sources in deeper waters, at higher wind speeds and diverse locations; providing them with greater diversification opportunities.