What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
Downing is pleased to announce that Downing Renewables & Infrastructure Trust plc ("DORE") has exchanged contracts to acquire its first investment, a portfolio of eight operational hydropower plants (the “Portfolio”) in central and southern Sweden. The Portfolio is being acquired from Fortum Sweden AB (“Fortum") for a purchase price of €64.5 million on a debt and cash free basis and the transaction is expected to complete in February 2021.
Hydropower is a key energy source in the drive towards 100% renewable energy in Sweden by 2040 and is a key sector focus for DORE. The sector provides predictable long-term cash flows from assets that have much longer lives than other renewable energy technologies such as wind and solar.
The Portfolio comprises eight hydropower plants across three different rivers in Sweden, with annual average production of over 100 GWh. The Portfolio has an operating track record spanning more than five decades.
DORE, which raised £122.5 million in its IPO on the London Stock Exchange earlier this month, is targeting investment in a diversified portfolio of renewable energy generating assets and other infrastructure assets in the UK, Ireland and Northern Europe.
The initial investment in the Portfolio amounts to approximately 48% of the IPO proceeds. DORE anticipates that the Portfolio will take-out leverage during the course of 2021, which will reduce the amount invested in the Portfolio. Capital released would then be reinvested in the wider pipeline of opportunities available and further diversify the portfolio.
This project forms part of the further renewable energy and infrastructure investments identified by Downing LLP and disclosed in DORE’s prospectus dated 12 November 2020.
Hugh W M Little, Chair of Downing Renewables & Infrastructure Trust plc said:
"This is an exciting first acquisition for DORE with a demonstrable track record in one of our key geographical locations. Diversification is the key descriptor for DORE and this portfolio of hydropower plants epitomises what we set out to invest in to be able to offer our shareholders stable and sustainable returns while supporting the global efforts to combat climate change."
Tom Williams, Partner, Head of Energy and Infrastructure at Downing LLP, further commented:
“We are delighted to announce our first acquisition on behalf of DORE. This is an exciting portfolio with its eight operational hydropower plants that have been generating for the last 50 years. With our internal asset management team engaged to protect and enhance value, we are confident that this inaugural investment will contribute strongly to DORE’s returns for a long time. This is an important step in delivering on our mandate while working towards a cleaner, greener future.”