Octopus Renewables revolver increases to £246 million with accordion

By Mary-Katherine Stinson

Lexington, Ky., Aug. 12 – Octopus Renewables Infrastructure Trust plc used the accordion feature of its revolving credit facility to increase the total commitments to £246 million, according to a notice Friday.

The increased revolver was entered into under the same terms as the company’s existing facility.

Proceeds were used to fund the company’s acquisition of a 51% ownership of the Crossdykes Onshore Wind Farm, located in southern Scotland, and other near-term pipeline opportunities.

The acquisition is expected to close in autumn 2022 subject to the receipt of regulatory consents.

Octopus is a London investment company.

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