Downing Renewables & Infrastructure Trust PLC - solar parks, wind farms and hydroelectric plants investment trust - Completes acquisition of a portfolio of eight operational hydropower plants in central and southern Sweden. Portfolio acquired from Fortum Sweden AB for about EUR65 million on a debt and cash free basis and comprises eight hydropower plants across three different rivers in Sweden, with annual average production of 108 gigawatt hours. The portfolio has an operating track record spanning more than five decades, company notes.
It adds: "DORE anticipates that the portfolio will take out leverage during the year which will reduce DORE's equity in the portfolio. Capital released would then be reinvested in the wider pipeline of opportunities available and further diversify the portfolio."
Current stock price: 98.08 pence
Year-to-date change: down 1.9%
By Paul McGowan; paulmcgowan@alliancenews.com
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Downing Renewa. (DORE)