Downing Renewables & Infrastructure Trust (DORE) has acquired two operational hydropower plants in Sweden, totaling 8 gigawatt hours of annual average production.
The deal was valued at £5.1 million (€5.8 million/$6.1 billion), and DORE said the acquisitions are being funded through Downing Hydro AB, using available cash reserves.
The first acquisition, completed in February, is a 2.5-gigawatt-hour hydropower plant in Högforsen, on the Gillerån river, a tributary to the Indalsälven river. The plant was commissioned in 1915, and in 2011 the plant underwent a major renovation, including replacement of the generator, turbine and control system. The second acquisition is of a 6-gigawatt-hour hydropower plant in the municipality of Gottne, located on the Moälven river. The plant underwent a major refurbishment in 2015. The acquisition is scheduled to be completed early March.
The acquisitions increase the total number of DORE's managed Swedish hydropower p