UK investment firm Octopus Renewables Infrastructure Trust (ORIT) has struck a deal to acquire a 7.75% ownership interest in the Lincs offshore wind farm, located off the east coast of England.
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 each of 3.6 MW, spread across around 35 sq km.
Completion of the acquisition, which is ORIT’s first into an operational offshore wind farm, is expected to take place during Q2 2022. The financial terms of the deal have not been disclosed. Last August, ORIT acquired around a 12% stake in renewable energy developer Simply Blue Group.
