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Downing Renewables and Infrastructure to Acquire Hydropower Portfolio in Sweden.

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Vincent

MANews-(C)2009-2022

UK-based closed-end investment trust Downing Renewables and Infrastructure Trust plc (LSE: DORE) has entered into an agreement to acquire, through Downing Hydro AB, a 100% interest in a portfolio of operational run-of-river hydropower plants in Sweden for a total consideration of approximately EUR 20m (USD 21.06m), from Batten AB and Daturum AB, the company said.

The acquisition will initially be funded by drawing down on DORE's GBP 25m revolving credit facility, meaning the RCF will be 68% drawn.

The portfolio comprises two hydropower plants located in Sweden's southern SE4 pricing region. The plants were comprehensively renovated between May 2014 and September 2019 and have an aggregate forecast annual production of c.18 GWh p.a.

The newly acquired hydropower plants will be fully integrated into DORE's existing hydropower operational, control and dispatch arrangements.

This acquisition will increase the number of DHAB hydropower plants to 19 and the total forecast annual production of the hydropower portfolio to c.174 GWh, a c.60% increase since 31 December 2021.

These are DORE's first assets to...

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