Downing Renewables and Infrastructure Trust Plc has announced that it is in exclusive negotiations to sell the 46-MW Gabrielsberget wind farm located in Sweden.
The company acquired the site in January 2022 for a total consideration of GBP 19.8 million (USD 26.4 million/EUR 23.6 million).
The proposed sale is expected to yield a small premium over the asset's carrying value as of June 30. The transaction is anticipated to close in the fourth quarter of 2024, potentially returning approximately 14% of the company's net asset value (NAV).
Proceeds from the divestment will be allocated to fully repay DORE's revolving credit facility and to support further growth and reinvestment in its hydropower portfolio. The identity of the prospective buyer has not been disclosed.
Gabrielsberget, which has been operational since 2011, is situated on a plateau in northeastern Sweden and features 20 Enercon E-82 2.30 MW turbines.
