ORIT maintains its 2026 dividend target of 6.23 pence per share while prioritizing debt reduction and asset sales to bring gearing closer to its 40% target.
H1 revenue and EBITDA beat budget and dividend target is intact, but NAV fell 5% due to lower wind generation assumptions, higher discount rates, and reduced power-price forecasts.
Octopus Renewables Infrastructure Trust (ORIT) reported first-half revenue 3% above budget and EBITDA 6% ahead, driven by strong solar and offshore wind performance. Despite operational success, the trust's net asset value fell 5% to £454.7 million due to lower onshore wind generation assumptions, higher discount rates, and reduced power-price forecasts.
The 5% NAV decline was primarily driven by a 10.1% reduction in long-term onshore wind generation assumptions, an increase in portfolio-weighted discount rates to 8.3%, and lower power-price forecasts.