Octopus Investments’ total facility size now stands at GBP 564 million ($739 million), and its solar portfolio now consists of 622 MW of assets.
After the fund closed a refinancing deal worth GBP 484 million ($634.5 million) earlier this year, Octopus closed new financing for a further GBP 80 million ($104 million), from banks which were already part of the syndicate of lenders involved in the original refinancing.
These nine original banks are Banca IMI, Barclays, BNP Paribas, CaixaBanks, Royal Bank of Scotland, SMBC, AIB, Sabadell and Santander Global Corporate Banking.
“Our asset management team has delivered on expectations with high quality reporting to a group of experienced lenders,” says Matt Setchell, Head of Energy Investments at Octopus. “They are impressed with the results, and followed up just six months after the original deal with more funding.”
Octopus Investments claims to be the largest commercial solar investor in Europe, and also invests wind and other renewable energy sectors. It is a part of the Octopus Group, which manages more than GBP 7 billion in funds.