Downing Renewables & Infrastructure Trust (DORE)

DORE’s monthly portfolio will generate enough power to light up 4,852,763 Christmas tree lights this December*🎄 Enjoy the festive celebrations as our diverse portfolio of renewable assets generates electricity. Our hydropower plants, solar and grid services assets aim to support the transition to net zero. Find out more about our portfolio: https://lnkd.in/gyGB4yRN #RenewableEnergy #InvestmentTrusts #InvestmentCompanies *one string of lights is 40W, DORE will generate an average of 36,104 MWh in December

DORE is pleased to announce the completion of the sale of its Swedish wind farm, Gabrielsberget. Completion of the sale crystallises a total return of c.54% over DORE’s investment period. The proceeds of the sale allow DORE to fully repay its RCF and to fund further growth and re-investment across our portfolio of assets in the Nordic region. A series of contractual and operational improvements undertaken by DORE’s asset management team over this ownership period have been the principal drivers behind its valuation lift. Tom Williams, Partner, Head of Energy & Infrastructure at Downing, said: “This outcome is testament to our team’s continued ability to identify value-accretive investment opportunities, which will be further supported by the capital unlocked from this transaction.” Read more about the sale here: https://lnkd.in/ejynmyFy #Infrastructure #Renewables #Wind #InvestmentCompanies #InvestmentTrusts #RenewableEnergy

Have you seen some of our new website features? Explore our asset map to see our diversified portfolio: https://lnkd.in/exAbTu28 DORE aims to deliver stable and sustainable returns by investing in a diversified portfolio of hydro, solar, wind and other infrastructure assets across the UK and Northern Europe. #InvestmentTrusts #RenewableEnergy #Marketing

Sheep and solar panels 🐑 Sheep graze at eight of DORE’s solar sites. Sheep and solar farms work well together as the solar panels provide shade and protection from the rain whilst the sheep maintain the land, preventing shadows appearing on the solar panels from overgrown grass.* There are more benefits to using sheep than just preventing the grass from overgrowing: • Sheep are more cost efficient than diesel-powered mowers • They graze on grass and weeds, decreasing the need to utilise pesticides on the land • Allow for the land to be dual-purpose – this is in accordance with the “10 Commitments” of good practice established by the Solar Trade Association** Discover more about our ESG initiatives here: https://lnkd.in/eC7a7635 *https://lnkd.in/eZ_29kvh **https://lnkd.in/eACf-jFH #sheep #solar #renewables #environment

Downing Renewables & Infrastructure Trust (DORE) has recently announced its quarterly results. Key highlights from this quarter: • NAV slightly reduced in the quarter by 0.5%, from £207.6m to £202.6m • The movement in NAV during the quarter was attributable to several factors, portfolio performance and updates to the long-term power price forecasts had a positive impact on the NAV. However, this was partially offset by inflation, the dividend payment and other movements • Energy generation was 6.7% higher than expected overall, but lower than expected power pricing in Sweden resulted in operating profits being 9% lower than budgeted • Additional value was created by renegotiating the Mersey shunt reactor contract which drove a 30% uplift to long-term contracted revenues Tom Williams, Partner and Head of Energy & Infrastructure at Downing, commented: “Our focus continues to be on capital allocation and value creation and in particular we are pleased to see further value through portfolio enhancements realised in this quarter’s NAV. We are also pleased with the Company’s recent hydropower acquisitions which provide further opportunities to create value for shareholders through our digitalisation and revenue optimisation programme. Portfolio assets continue to perform well with energy generation ahead of expectations albeit in challenging power price conditions.” Want to stay informed about the latest DORE news and insights? Sign up for updates here: https://lnkd.in/eTPrgTef Capital at risk. Returns not guaranteed. #Renewables #InvestmentTrusts #InvestmentCompanies

DORE is pleased to announce the completion of the acquisition of three hydropower plants in Sweden, Hagby, Gyttorp and Hammarby. The plants are located in south central Sweden within the SE3 price zone. The portfolio generates c.7 GWh annually, with the majority of generation during the winter months. It is a great addition to DORE’s hydropower portfolio, continuing our strategy of geographical diversification across our portfolio. DORE’s portfolio now holds 37 hydropower plants and is forecast to produce c.222 GWh annually. Thank you to all of those involved in this acquisition Henrik Dahlström, Ulf Wennilsjö, Vinay Desai, Andreas Kibe, Magnus Olofsson. #hydropower #InvestmentTrusts #renewables #technology

We are delighted to announce that DORE's investment manager, Downing, has been shortlisted for the Best Investment Trust Manager category in the UK Investor Magazine Awards 2024! We are proud to have been recognised for our achievements and investment management this year. Please vote for us through this link: https://lnkd.in/g9UtePtv Congratulations and good luck to the other shortlisted trusts! #UKInvestorMagazine #Awards #InvestmentTrusts

Asset in spotlight: Mersey, shunt reactor Mersey Reactive Power, a 200 MWAr shunt reactor, was acquired in 2023, around a year after it became a fully operational asset. The reactor was the first project of the National Grid’s Stability Pathfinder initiative to go live. Shunt reactors are electrical devices that control voltage levels in a system by absorbing or generating reactive power. The grid infrastructure asset supports Great Britain’s electricity system in voltage management, providing increased network resilience, reducing costs to consumers and lowering carbon emissions. Shunt reactors are an important part of aiding the UK’s transition to net-zero carbon as they replace services typically provided by fossil fuel powered generators and allow renewable energy sources to be more readily connected to the grid.* DORE recently renegotiated its contract with the National Grid Electricity System Operator to provide additional reactive power to the Merseyside area. It is now available to be called upon by the network operator for unlimited use throughout the year and DORE expects the shunt reactor annual revenue to increase by c.£300k per annum (to be indexed with inflation). Find out more about our assets here: https://lnkd.in/eakZBTpD   #Grid #RenewableEnergy #Sustainability  *https://lnkd.in/eJAB9Egq

Bees, biodiversity and solar power 🐝 We have 20 beehives looked after by local branches of the British Beekeepers Association, some of which are at our Deeside and Andover solar farms. The presence of bees and the cultivation of wild plant life at our solar sites are examples of our approach to sustainability – and can contribute to the targets under UN Sustainable Development Goal 15, ‘life on land’. Bees help our environment as well as our economy. Supporting the bee population is one of the best ways to boost food security and sustainable farming, according to the United Nations Food and Agriculture Organization (FAO)*.  Bees add to the economy:  • £691 million in terms of crops pollinated within the UK**  • Cover £1.8 billion of work effort that it would cost for humans to replace bees*** You can buy some of the natural honey produced at our solar sites from Eoin and Beth Donnelly, who run the Little Honey House and look after the bees making honey at Deeside solar farm in Wales. Visit their website to find out more: https://lnkd.in/eZxGjbaX Discover more about our ESG initiatives here: https://lnkd.in/e2TeiZWv  * https://lnkd.in/ehuR7BDE  **, *** https://lnkd.in/e-M328Fi  #bees #solar #renewables #environment 

DORE is delighted to announce that we are the first renewables fund and renewables infrastructure investment company to have qualified to participate in P1 Investment Services’ Net-Zero Carbon Target 10 (NZC10) initiative. As an Article 9 fund, the sustainable investment objective of DORE is to contribute to the transition to net zero through its investments, compiling and operating a diversified portfolio of renewable energy and infrastructure assets. NCZ10 ensures that funds have investment policies focusing on carbon-neutrality alongside reducing emissions. Downing, the investment manager of DORE, is a member of the Net Zero Asset Manager initiative. Find out more about NZC10 here: https://lnkd.in/eRpABbyP #NCZ10 #Net-ZeroCarbon #Renewables #Sustainable #InvestmentTrusts