Downing Renewables & Infrastructure Trust plc (DORE) has signed an exclusivity agreement with Bagnall Energy Limited (Bagnall) in relation to a proposed investment in a 100 MW nearshore, shallow water wind farm to be constructed in Lake Vänern in southern Sweden (the Wind Farm), developed by Cloudberry Clean Energy AS (Cloudberry). The exclusivity agreement gives DORE the option to enter into a commitment for the Wind Farm once certain conditions have been met. Once these conditions have been met, DORE would own c.40% of the project, with Bagnall and Cloudberry owning c.40% and 20% respectively. Confirmation of the acquisition is expected to be announced in the summer of 2021. The 100 MW wind farm project in Lake Vänern is the second wind farm on the lake and is situated close to existing grid infrastructure. It includes 16 turbines with an estimated annual power production around 350 GWh, significantly strengthening the access to clean and renewable energy in the region. This project forms part of the renewable energy and infrastructure pipeline identified by Downing LLP and disclosed in DORE's prospectus dated 12 November 2020.