Octopus Renewables Infrastructure Trust (ORIT) has sold its entire interest in HYRO Energy, a UK green hydrogen and e-fuels developer, for £4.6m, a price in line with the trust’s most recent valuation of the business.

The 25 per cent holding has been acquired by the Octopus Energy Transition Fund, managed by Octopus Energy Generation, alongside a co-investor, following what ORIT described as a competitive, independently run process.

The trust expects to receive £2.6mn upfront, with the remaining £2mn contingent on HYRO meeting construction milestones for its first project, which recently secured planning approval.

Phil Austin, ORIT chair, said the divestment would allow the company to redirect development capital into sectors with scale and timelines better suited to its size and strategic priorities. He added that the sale underlined the trust’s “capital discipline and proactive portfolio management”, enabling it to focus on its core holdings in wind, solar and related technologies as it moves into its next phase of growth.

Below is an interview with ORIT fund managers David Bird and Chris Gaydon, filmed at the recent half year results