Octopus Renewables Infrastructure Trust (ORIT) has completed the sale of its entire interest in green hydrogen and e-fuels development platform, HYRO Energy Limited, for £4.6m.

ORIT’s 25% stake has been bought by the Octopus Energy Generation-managed Octopus Energy Transition Fund and a related co-investor, following a process managed by an external party.

The transition is expected to generate total proceeds of £4.6m, of which £2.6m will be received immediately.

The remainder will be contingent on key construction milestones for HYRO’s first project, which has recently received planning consent.

Chair at ORIT, Phil Austin, said: "The HYRO exit allows ORIT to reallocate its development capital towards sectors with project scale and realisation timelines which are closer aligned to the company's current size and near-term objectives.

"The transaction reflects ORIT's continued capital discipline and proactive portfolio management, allowing the company to anchor its core allocation to wind, solar and complementary technologies as it enters its next phase of growth."

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