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Downing Renewable & Infrastructure Trust (DORE) is delighted to announce its first acquisition of an onshore wind farm.
The farm is located in northeast Sweden and generates 46MW. The farm was acquired for approximately €23.8 million (c.£19.8 million) and underlines DORE’s commitment to a diversified, renewable energy portfolio.
The wind farm is powered by 20 Enercon E-82 2.30 MW turbines and is located on a plateau in north-eastern Sweden at approximately 220 meters above sea level, which is a suitable location to generate reliable energy levels. The project has been operational since 2011 and is expected to generate c.108 GWh of electricity per annum.
Hugh Little, Chairman of DORE, commented: “We are delighted to announce the acquisition of our first onshore wind farm adding further diversity to our existing portfolio. This Swedish wind asset fits well in the technology diversification DORE is pursuing. Our pipeline of potential acquisitions remains healthy, and we look forward to adding further attractive growth opportunities”.
Downing Hydro AB (DHAB), a subsidiary of DORE, completed an acquisition of two hydropower portfolios from ASI Kraft AB and AB Edsbyn Elverk for €25 million (c.£20.8 million). This brings the total number of Swedish hydropower plants owned by DHAB to 17.
View the full RNS announcement