Downing Renewables & Infrastructure Trust (DORE) has committed to acquiring three Swedish hydropower plants and their associated storage reservoirs.
The combined expected annual average production is approximately 7 gigawatt-hours, with a potential increase of 0.5 gigawatt-hours after further upgrades. The total investment is expected to be approximately £5 million ($7 million).
All three hydro plants, Hagby, Gyttorp and Hammarby, are located on the Norasjön River in the Örebro County in the SE3 price region in Sweden. Two of the plants — Gyttorp and Hagby — were built in 1946 and 1952, respectively, and underwent extensive refurbishment in 2007. Hammarby was built in 1982 and recently underwent a significant upgrade.
The transaction offers a strategic opportunity to extend the portfolio into a new geographical area of SE3. The three hydropower plants benefit from storage and consequently allow the portfolio to benefit from an attractive revenue profi