Downing Renewables & Infrastructure Trust (DORE) has provided a portfolio update announcing that its Mersey Reactive Power Limited, a UK-based, fully operational 200 MVAr shunt reactor which the company acquired in June 2023, has renegotiated its contract with the National Grid Electricity System Operator to provide additional reactive power to the Merseyside area. The shunt reactor is now available to be called upon by the network operator for unlimited use throughout the year, which will allow DORE to benefit from increased revenues under the availability-based Pathfinder Contract, part of National Grid’s Stability Pathfinder Initiative. DORE expects the shunt reactor to increase its annual revenue by c.£300k per annum (to be indexed with inflation) which is equivalent to c. 30% for the remainder of the nine-year contract.

The company also provided an update on the Gottne hydropower plant which has been earning revenues since 5 July following its pre-qualification for participation in the Frequency Containment Reserve markets (FCR) in Sweden. Additionally, Downing Hydro has submitted an application to the Swedish Transmission System Operator for a second hydropower plant to participate in the FCR market. Further sites will be submitted for FCR pre-qualification as Downing continues to roll out this programme across its hydropower plants.

Tom Williams, Partner, Head of Energy and Infrastructure at Downing LLP, commented: “We are pleased with the progress made by DORE’s revenue optimisation strategy, as we continue to enhance our grid and hydropower assets and unlock further value from the portfolio. This progress is testament to the ongoing work undertaken by our deeply knowledgeable and experienced asset management team at Downing.”

DORE : Portfolio development driving strong returns for DORE