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Burges Salmon advises Octopus Renewables on refinancing of revolving credit facility

The Business Magazine article image for: Burges Salmon advises Octopus Renewables on refinancing of revolving credit facility
7 March 2023
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Bristol-based law firm Burges Salmon has advised long-standing client Octopus Renewables Infrastructure Trust (ORIT) on the refinancing of its multi-currency revolving credit facility (RCF).

ORIT is a closed-ended investment company incorporated in England and Wales that builds and operates a diversified portfolio of renewable energy assets in Europe and Australia.

Its investment objective is to provide investors with attractive and sustainable dividends, alongside capital growth.

ORIT is managed by Octopus Renewables Limited – trading as Octopus Energy Generation – which is one of the largest renewable energy investors in Europe.

The committed £270.8 million RCF has been provided by a four-lender club comprising Allied Irish Banks, National Australia Bank, NatWest and Santander.

ORIT expects to use the RCF to fund existing construction commitments, to repay short-term facilities within the group and for future acquisitions of new renewable energy assets.

The Burges Salmon team advising on the deal was led by partner Graham Soar (pictured) and senior associate Alison Logan from the firm’s banking and finance team.


Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country.

An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts.

Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.

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