Monday, May 16 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of May 09
Week of May 02
Week of Apr 25
Week of Apr 18
Week of Apr 11
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Downing Renewables expands Swedish hydro portfolio with two deals


    January 26, 2022 - SeeNews Renewables

     

      January 26 (Renewables Now) - Downing Renewables and Infrastructure Trust Plc (LON:DORE) is spending around EUR 25 million (USD 28.2m) to acquire two operational hydropower portfolios in Sweden, increasing to 157 GWh its annual average production in the Nordic country.

      As part of the first transaction, the British renewables investment trust is taking over a 12-GWh portfolio of five run-of-river hydropower plants in Dalarna, central Sweden, from ASI Kraft AB for about EUR 6 million.

      Downing Renewables is separately buying a 36-GWh bundle of four run-of-river plants, also in central Sweden. For those, the buyer will pay some EUR 19 million to local company AB Edsbyn Elverk.

      The transactions are set to close within a week. They were funded mainly from drawing down on the debt facility of Swedish hydropower subsidiary Downing Hydro AB, which was agreed in November 2021.

      The acquired assets have a combined annual output of around 48 GWh. They will be integrated under the current hydropower portfolio of Downing Hydro AB, diversifying and boosting the stability of DORE's revenue sources.

      "Hydropower is often forgotten as a source of renewable power, but it will be key part of the energy transition as it is possible to hold energy back in the reservoirs and sell when supply from renewable sources elsewhere is low. This helps reduce price volatility and maximises the value of the energy stored for end users and our investors," noted Tom Williams, partner at the trust's investment manager Downing LLP.

      Over half of Downing Renewables' portfolio comprises hydropower investments in Sweden, its website shows.

      (EUR 1 = USD 1.127)

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.