UK investment firm Octopus Renewables Infrastructure Trust (ORIT) has increased its ownership interest in the Lincs offshore wind farm, located off the east coast of England.
ORIT picked up a further 7.75% stake from a fund managed by Macquarie Asset Management for an undisclosed sum. The deal follows on from an investment earlier this year and takes ORIT’s position in the asset to 15.5%.
The wind farm has been operational since 2013 and benefits from the UK’s Renewables Obligation Certificate (ROC) regime, receiving 2 ROCs per megawatt-hour of electricity generation during the first 20 years of operation.
Lincs is operated and managed by Ørsted and has an installed capacity of 270 MW, made up of 75 turbines spread across around 35 sq km.
ORIT’s investment comes alongside a co-investment from another fund managed by Octopus Energy Generation, Sky (ORI SCSp), which has acquired a 7.75% indirect stake in Lincs as part of this transaction. Following this transaction, funds managed by Macquarie Asset Management retain a 44% stake in Lincs.
