Octopus Renewables Infrastructure Trust PLC (LSE:ORIT), a fund managed by Octopus Investments Limited signed an agreement to acquire Portfolio of 4 solar PV sites in Andalucia, Southern Spain for ?37.8 million on October 1, 2020. The acquisition cost of the Portfolio, including grid access rights, is ?37.8 million, which will be due once the Portfolio is construction ready. The total cost of acquisition and construction of the Portfolio is expected to be ?120 million, including construction costs of ?82 million. The assets will have a total installed capacity of 175 megawatt peak which are expected to be ready to build by January 2023 and are expected to become operational in early 2024. Completion of the acquisition conditional on the assets becoming ready to build. The transaction with be funded from the funds raised through an Initial Public Offering by Octopus Renewables Infrastructure Trust PLC. María Pilar García Guijarro, David Diez and Luis Soto of Watson Farley & Williams Spain, SL acted as legal advisors to Octopus.

Octopus Renewables Infrastructure Trust PLC (LSE:ORIT), a fund managed by Octopus Investments Limited cancelled the acquisition of Portfolio of 4 solar PV sites in Andalucia, Southern Spain on January 19, 2024. ORIT has been refunded its initial deposit paid and has in addition negotiated a termination payment from the vendor.