DORE Hydro Pre-Qualifies For FCR Markets in Sweden
3 July 2024
Downing Renewables & Infrastructure Trust plc
(the "Company" or "DORE")
Downing Hydro AB Pre-Qualifies For Frequency Containment Markets in Sweden
DORE is pleased to announce that Downing Hydro AB ("DHAB") has pre-qualified its first hydropower plant site for participation in the Frequency Containment Reserve markets (FCR-N and FCR-D) in Sweden. The pre-qualification process is administered by Svenska Kraftnät (SvK, the Swedish Transmission System Operator). Once a company has successfully completed the pre-qualification process with SvK, it allows the company to operate in the FCR markets for the site(s) approved. The FCR markets serve to stabilise the Swedish grid. The initial site pre-qualified with SvK is the Gottne hydropower plant. The site is expected to start earning revenues from participation in the FCR-N and FCR-D markets during July 2024.
Henrik Dahlström, Investment Director at Downing LLP, commented: "We are pleased to have pre-qualified the Gottne hydropower site with SvK for two FCR markets. The ability to participate in the FCR markets provides DHAB with the opportunity to further optimise its income, earning revenues from both the spot market and the ancillary services markets. DHAB will now seek to accelerate the roll-out of FCR participation at further sites across the existing Swedish hydropower estate."
ENDS
LEI: 2138004JHBJ7RHDYDR62
Contact
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Downing LLP - Investment Manager to the Company Tom Williams |
+44 (0)20 3954 9908 |
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Singer Capital Markets - Joint Corporate Broker Robert Peel, Alaina Wong, Jalini Kalaravy (Investment Banking) Sam Greatrex, Alan Geeves, James Waterlow, William Gumpel (Sales) |
+44 (0)20 7496 3000
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Winterflood Securities Limited - Joint Corporate Broker |
+44 (0)20 3100 0000 |
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Neil Morgan (Corporate Finance) Darren Willis, Andrew Marshall (Sales) |
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TB Cardew - Public relations advisor to the Company Tania Wild Henry Crane |
+44 (0)20 7930 0777 +44 (0)7425 536 903 +44 (0)7918 207157 |
About Downing Renewables & Infrastructure Trust plc
DORE is a closed-end investment trust that aims to provide investors with an attractive and sustainable level of income, with an element of capital growth, by investing in a diversified portfolio of renewable energy and infrastructure assets in the UK and Northern Europe. DORE has been awarded the London Stock Exchange's Green Economy Mark in recognition of its contribution to the global 'Green Economy'.
The Board classifies DORE as a sustainable fund with a core objective of accelerating the transition to net zero through its investments, compiling and operating a diversified portfolio of renewable energy and infrastructure assets to help facilitate the transition to a more sustainable future. The Company believes that this directly contributes to climate change mitigation.
DORE's strategy, which focuses on diversification by geography, technology, revenue and project stage, is designed to increase the stability of revenues and the consistency of income to shareholders. For further details please visit www.doretrust.com.
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