Downing Renewables & Infrastructure Trust PLC has exchanged contracts to acquire two operational portfolios of hydropower plants located in central Sweden for a total consideration of approximately EUR 25 million. DORE has acquired a c. 12 GWh portfolio of hydropower plants from ÄSI Kraft AB located in the SE3 electricity pricing zone for approximately EUR 6 million and a c. 36 GWh portfolio located in the SE2 zone for approximately EUR 19 million from AB Edsbyn Elverk. The acquisitions have been largely funded through drawdown on its Downing Hydro AB (DHAB) Swedish hydropower portfolio debt facility signed in November 2021.

The acquisitions are expected to close within one week. The first portfolio comprises five hydropower plants located on three different rivers in central Sweden. The portfolio has an expected annual average production of c.12 GWh of electricity.

The sites also benefit from a long operational history and are located in the county of Dalarna, central Sweden, in the attractive SE3 price area. The second portfolio includes four run-of-river hydropower plants situated on a single river in central Sweden. The portfolio has an expected annual average production of c.36 GWh of electricity.

The sites benefit from a long operational history and were refurbished between 2010 - 2013. The hydropower plants are located in and around the Swedish town Edsbyn in central Sweden. The acquisitions increase the total number of managed Swedish hydropower plants to 17, with a total annual average production of c. 157 GWh.

The hydropower plants acquired will be integrated into the existing portfolio of hydropower plants in Sweden owned by Downing Hydro AB and will support DORE's strategy, which focuses on diversification by geography, technology, revenue and project stage, designed to increase the stability of revenues and the consistency of income to shareholders.