Downing Renewables & Infrastructure Trust PLC (LSE:DORE) said on September 29, 2021 that it will raise up to £25 million ($33.8 million) via a discounted share placing. The trust said it will place up to 24.5 million new ordinary shares at 102.50 pence a share. The company said that it has secured exclusivity, or is in bilateral negotiations, in relation to four opportunities with a total investment amount of around £87 million, including the Lake Vanern Wind Project in Sweden.

It added that it is in continued negotiations on the proposed acquisition of three hydropower plants and electricity distribution assets. The company said that the investment manager has also identified a wider pipeline of further assets in the U.K., Sweden, Finland, Iceland, and Poland with a total investment amount in excess of £4.3 billion. "The investment manager is also currently exploring options to optimize the existing capital structure of the company's portfolio, including the inception of a revolving credit facility," it said.