Downing Completes Sale of Gabrielsberget Wind Farm with 54% Return
Downing Renewables & Infrastructure Trust (DORE) has finalized the sale of its entire stake in the Gabrielsberget wind farm in Sweden, achieving a total return of approximately 54% over the investment period. The asset was acquired in January 2022 for £19.8 million and yielded €36 million (£29.8 million) in sales proceeds and dividends during DORE's ownership.
The sale was made to Angel Wind, a subsidiary of Bagnall Energy, for a price exceeding the asset's book value as of September 30, 2024, when accounting for currency hedging. The funds will be used to repay DORE's revolving credit facility, support share buybacks, and finance further investments in its Nordic portfolio.
Operational improvements implemented by DORE's asset management team contributed to the increased valuation of Gabrielsberget. Tom Williams, partner and head of energy and infrastructure at Downing LLP, noted the transaction's success as a testament to DORE's value-creation strategy.
DORE invests in renewable energy and infrastructure assets, focusing on sustainable and stable income for shareholders. Recognized with the London Stock Exchange's Green Economy Mark, the company continues to support the transition to net zero.
Downing LLP, founded in London in 1986, manages £2.1 billion in assets, including over £920 million in renewable energy. A certified B Corporation, Downing emphasizes sustainable investments across energy, real estate, and healthcare sectors.
Source: Placera.se
