Ashurst advises banks on Octopus Renewables Infrastructure Trust Plc French solar portfolio refinancing

Acquired in July 2020 by Octopus Renewables Infrastructure Trust Plc, the portfolio consists of 14 fully operational solar photovoltaic assets with a total installed capacity of 119.5 MW.

The new €125.7 million fully amortising debt facility, provided by Allied Irish Banks., Société Générale and La Banque Postale, extends the maturity date of the financing by over five years to December 2038 and significantly reduces ongoing interest costs.

The Ashurst Paris team was led partner Mark Barges, assisted by senior associate Ghita Bennis, project finance associates Alix Damecour and Isabelle Renninger, and expertise counsel Emmanuelle Leroy. Partner Jacques Dabreteau and associates Tristan Choppin de Janvry and William Toutain advised on public law aspects of the transactions, while senior associate Charles-Douglas Fuz provided corporate law advice and counsel Adrien Williot advised on real estate matters. Partner Kerion Ball and senior associate Sana Dossa also advised.