Octopus Renewables Infrastructure Trust (ORIT) has published its unaudited interim results for the first half of 2025 and outlined its new strategic roadmap, ORIT 2030. ORIT reported resilient operational performance, a steady dividend yield, and progress on capital allocation.
As of 30 June 2025, net asset value stood at £540 million, down from £570 million at the end of 2024, with NAV per share at 99.5 pence. The company declared dividends of 3.08 pence per share for the period, in line with its full-year target. Revenue from the operational portfolio remained stable at £68.7 million, with EBITDA at £44.3 million. Generation reached 654 GWh, broadly unchanged year on year, as increased solar output offset weaker wind conditions.
ORIT repurchased 12.3 million shares in the first half for £8.5 million, with further buybacks continuing after the period. Several asset sales are in progress towards a £80 million target by year end. Selective investments were made in Nordic Generation and BLC Energy, alongside the conditional acquisition of Irishtown. Debt refinancing reduced the average cost of borrowing to 3.5% and extended the maturity of the revolving credit facility to 2028, delivering projected annual savings of around £850,000.
Operational highlights included avoiding an estimated 165,000 tonnes of CO₂ and powering 158,000 homes with clean energy. Solar output rose 34% compared with the same period last year.
In August 2025, the company announced a reduced management fee, effective from November, expected to save approximately £700,000 annually.
Alongside the results, ORIT launched its 2030 strategy, setting priorities to expand net asset value to £1 billion, target medium-to-long-term returns of 9–11%, and scale clean energy capacity to support the energy transition.
