Octopus Renewables posts 2030 strategy and lower net asset value
Octopus Renewables Infrastructure Trust PLC on Tuesday announced the launch of its five-year strategy targeting substantial net asset value growth by 2030, as it posted an interim NAV fall.
The London-based investment company, which is focused on European and Australian renewable energy assets, said its net asset value per share fell 3.0% to 99.5 pence as at June 30, from 102.6p at December 31, 2024.
Octopus Renewables shares were 1.0% lower at 63.75 pence each on late Tuesday morning in London, giving it a market capitalisation of £340.5 million.
NAV total return was minus 0.2% in the first half of 2025, compared to plus 2.0% a year prior.
The company noted a positive contribution from macroeconomic updates, including revised UK inflation forecasts, a reduction in Finnish corporate tax, and foreign exchange tailwinds.
Meanwhile, development-stage asset valuations saw a modest net decline, mostly due to headwinds in the floating offshore wind sector affecting Simply Blue Group, a Cork, Ireland-based company which says it works with the oceans to develop renewable energy projects globally.
Octopus Renewables declared an interim dividend of 3.08 pence per share, up 2.3% from 3.01p.
Meanwhile, the company announced its ‘ORIT 2030’ strategy under which its core focus is on NAV growth via investment into construction and developer assets.
Further, it plans to create further impact via adding new renewable capacity and proposes a continuation vote every three years.
‘At its core, ORIT 2030 marks a return to the company’s original mandate of constructing new renewable energy assets to sit alongside a diversified portfolio of operational assets, thereby offering investors both capital appreciation and yield, while also supporting the energy transition,’ Octopus Renewables said.
It added: ‘Despite market headwinds, the fundamental investment case for renewables remains compelling and we are optimistic about improving sector sentiment, particularly as falling interest rates may help restore the relative appeal of income?generating infrastructure offerings. ORIT is well-positioned in this context.’
Chair Phil Austin said: ‘With disciplined capital management and the expertise of our investment manager, we believe we are well placed to execute ORIT 2030 and to pursue our ambition of building a £1 billion renewables vehicle by 2030.’
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