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Announced

Completed

Downing Renewables & Infrastructure Trust completed the acquisition of a 96MWp portfolio of c.50 solar PV assets in the UK for £42m.

Financials

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Transaction Value£42m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales3.4x
EV/EBITDA4.24x
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Infrastructure

solar assets

Renewable Energy Equipment

Majority

Private

Domestic

Single Bidder

Private Equity

United Kingdom

Friendly

Completed

Synopsis

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Downing Renewables & Infrastructure Trust, a closed-end investment trust that invests exclusively in a portfolio of renewable energy and infrastructure assets located in the UK, Ireland and Northern Europe, completed the acquisition of a 96MWp portfolio of c.50 solar PV assets in the UK for £42m ($58m). "The combination of this solar portfolio, the hydro portfolio acquisition in January and the wind project under exclusivity encapsulates DORE's strategy of diversification by geography, technology, construction stage and revenue. Together, it provides strong, stable, diversified and high-quality earnings that will underpin DORE's dividend and NAV for years to come," Tom Williams, DORE Head of Energy & Infrastructure.

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