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Downing Renewables & Infrastructure Trust makes first investment since IPO | 21 December 2020

21 December 2020 | 09:12am StockMarketWire.com - Downing Renewables & Infrastructure Trust said it had exchanged contracts to acquire its first investment, a portfolio of eight operational hydropower plants in central and southern Sweden. The portfolio was being acquired from Fortum Sweden AB for a purchase price of approximately €65 million on a debt and cash free basis. The transaction was expected to complete in February 2021. The initial investment in the portfolio amounted to approximately 48% of the Downing Renewables & Infrastructure Trust IPO proceeds. DORE anticipated that the portfolio would take out leverage during the course of 2021, reducing the amount invested in the portfolio. Story provided by StockMarketWire.com

Downing Renewables & Infrastructure invests €64m in hydropower plants

By IPE staff2020-12-21T10:30:00+00:00 Downing Renewables & Infrastructure Trust (DORE) is investing €64.5m to buy a portfolio of eight operational hydropower plants in central and southern Sweden. DORE, which raised £122.5m (€131m) in its initial public offering on the London Stock Exchange earlier this month, said it is making its first investment with the acquisition of the portfolio from Fortum Sweden. The deal is being made on a debt and cash-free basis and is expected to complete in February 2021. DORE said the portfolio will take-out leverage during the course of 2021 which will reduce the amount invested in the portfolio, adding that capital released would then be reinvested in the wider pipeline of opportunities available and further diversify the portfolio, the company said.

Downing acquires Swedish hydro portfolio

UK investor Downing Renewables & Infrastructure Trust has exchanged contracts to acquire its first investment, a portfolio of eight operational hydropower plants in central and southern Sweden from Fortum Sweden. The portfolio is being acquired for a purchase price of €64.5m on a debt and cash free basis and the transaction is expected to complete in February 2021. The hydropower plants are located across three different rivers in Sweden, with annual average production of over 100 gigawatt-hours and an operational track record spanning more than five decades. Hydropower is a key energy source in the drive towards 100% renewable energy in Sweden by 2040 and is a key sector focus for Downing Renewables, the investor said. 

Investegate |Downing Renew& Infra Announcements | Downing Renew& Infra: First Day of Dealings

Investegate |Downing Renew& Infra Announcements | Downing Renew& Infra: First Day of Dealings
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