Octopus Renewables Infrastructure Trust to build onshore wind in Scotland
The company has acquired 100% of the rights to build a 50MW onshore wind farm in South Lanarkshire
Image: Octopus Energy
Octopus Renewables Infrastructure Trust, part of the Octopus Group, has bought 100% of the rights to construct a 50MW onshore wind farm in South Lanarkshire, Scotland.
The transaction and the construction of the Cumberhead project will cost an estimated £75 million.
The 12-turbine wind farm is expected to start operations in the fourth quarter of next year.
Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc, commented: “The project diversifies our holdings in the UK, and once operational will contribute to reducing the UK’s carbon footprint.”
As set out in the Company s announcement of its Final Results released on 15 March 2021, the Directors identified a potential procedural issue in respect of the payment of the first interim dividend covering the period from the Company s IPO on 10 December 2019 to 30 June 2020 of 1.06 pence per Ordinary Share paid on 21 August 2020 (the First Interim Dividend ), which may have resulted in the First Interim Dividend having been made otherwise than in accordance with the Companies Act 2006 (the Act ). The total aggregate amount of the First Interim Dividend was £3,710,000. The Company s historic reported trading results and financial condition, the dividends declared in respect of Q3 2020, Q4 2020 and Q1 2021 and the Company s ability to pay future dividends are entirely unaffected.
Amp leverages South Australia renewables market with hub launch
Published by: Sandy Bhadare on 06 May 2021 White & Case has acted for a Toronto-headquartered developer, owner and operator of renewable energy.
White & Case has acted for a Toronto-headquartered developer, owner and operator of renewable energy assets on the establishment of renewables assets in Australia.
Amp Energy’s Australian subsidiary Amp Power Australia has launched a collection of large-scale solar photovoltaic (PV), battery energy storage and wind assets in South Australia, named the Renewable Energy Hub of South Australia (REHSA).
Amp has acquired the renewable energy assets from renewable energy developer EPS. The REHSA has attracted a total investment of over AUD 2 billion.