Overview
Downing Renewables and Infrastructure Trust aims to provide investors with an attractive and sustainable level of income returns, with an element of capital growth, by investing in a diversified portfolio of renewable energy and infrastructure assets located in the UK, Ireland and Northern Europe.
The investment manager believes that by investing in a range of renewable energy sources, DORE can reduce the seasonal volatility of revenues and reduce dependency on any single technology to provide more consistent income. There may also be some investments in other infrastructure, whose principle revenues are not derived from energy generation. In addition, diversifying the portfolio geographically should help reduce the portfolio’s regulatory and political risk.
The portfolio will also blend operational projects with projects under construction. The manager says that investment in construction-phase projects offers the potential for higher returns. The amount invested in construction-ready assets or assets under construction will be limited to 35% of gross asset value, as construction projects tend to have more risk associated with them.
We wrote an IPO note to explain what the fund was trying to achieve which was published in November 2020
Since then we have published a number of notes on the trust.
An update note – Ahead of expectations – on 4 August 2021, which covered the trust’s progress since IPO
An annual overview note – Proving its mettle – on 24 May 2022, which reported on the trust’s decent performance and robust pipeline
An annual overview note – Powering ahead – on 14 November 2023, which discussed the opportunity to add value in the trust’s hydropower portfolio
An annual overview note Fundamental story to drive returns – on 17 May 2024, looked at why we felt the company’s success was not being reflected in its share price
You can access the fund’s website here
You can view our interviews with the company’s Fund Managers below:
18th March 2022: Tom Moore & Henrik Dahlström – Weekly Show
Fundamentals
Price
Research History
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17 May 2024 13 min read
Downing Renewables and Infrastructure Trust – Fundamental story to drive returns
Downing Renewables and Infrastructure Trust Investment companies | Annual overview | 17 May 2024 Fundamental story to drive returns By almost every measure, Downing Renewables and Infrastructure Trust (DORE) has delivered above expectations since its IPO in December 2020. A NAV total return of 33% over this period highlights the already strong performance of the […]
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13 min read
Downing Renewables and Infrastructure Trust – Fundamental story to drive returns
Downing Renewables and Infrastructure Trust Investment companies | Annual overview | 17 May 2024 Fundamental story to drive returns By almost every measure, Downing Renewables and Infrastructure Trust (DORE) has delivered above expectations since its IPO in December 2020. A net asset value (NAV) total return of 33% over this period highlights the already strong […]
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13 min read
Downing Renewables and Infrastructure Trust – Fundamental story to drive returns
Diversified renewable energy and infrastructure DORE aims to provide investors with a sustainable level of income, with an element of capital growth, through a diversified portfolio of renewable energy and infrastructure assets located in the UK, Ireland and Northern Europe. Portfolio progress in 2023 On 11 April, DORE released its annual results for the year […]
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14 Nov 2023 22 min read
Downing Renewables and Infrastructure Trust – Powering ahead
Downing Renewables and Infrastructure Trust Investment companies | Annual overview | 14 November 2023 Powering ahead Downing Renewables and Infrastructure (DORE) set out to build an attractive portfolio of renewable energy assets diversified by geography and asset type, and has succeeded in that. In doing so, it identified an opportunity to build a portfolio of hydropower […]
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21 min read
Downing Renewables and Infrastructure Trust – Powering ahead
Downing Renewables and Infrastructure Trust Investment companies | Annual overview | 14 November 2023 Powering ahead Downing Renewables and Infrastructure (DORE) set out to build a portfolio of renewable energy assets diversified by geography and asset type, and has succeeded in that. In doing so, it alighted upon an opportunity to build a portfolio of hydropower […]
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22 min read
Downing Renewables and Infrastructure Trust – Powering ahead
Downing Renewables and Infrastructure Trust Investment companies | Annual Overview | 14 November 2023 Powering ahead Downing Renewables and Infrastructure (DORE) set out to build an attractive portfolio of renewable energy assets diversified by geography and asset type, and has succeeded in that. In doing so, it alighted upon an opportunity to build a portfolio of […]
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20 Oct 2023 1 min read
Interview with Tom Williams from Downing Renewables and Infrastructure
In this week’s show, James Carthew spoke to Tom Williams from Downing Renewables and Infrastructure. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us on [email protected]. Additionally, if you would […]
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06 Oct 2022 111 min read
QuotedData’s Economic and Political Monthly Roundup October 2022
Economic and Political Monthly Roundup Investment companies | Monthly | October 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to […]
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17 Jun 2022 1 min read
Downing Renewables and Infrastructure Trust targets £50m fundraise
Downing Renewables & Infrastructure Trust (DORE) is aiming to raise £50m through an issue of up to 45,669,495 new ordinary shares at 111p per share, and to establish a 12-month share issuance programme to issue up to 250m ordinary shares (less the number issued under this initial issue). Shareholders need to approve these plans. The […]
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1 min read
Downing Renewables and Infrastructure Trust targets £50m fundraise
Downing Renewables & Infrastructure Trust (DORE) is aiming to raise £50m through an issue of up to 45,669,495 new ordinary shares at 111p per share, and to establish a 12-month share issuance programme to issue up to 250m ordinary shares (less the number issued under this initial issue). Shareholders need to approve these plans. The […]
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24 May 2022 23 min read
Downing Renewables and Infrastructure Trust – Proving its mettle
Proving its mettle With a solid first set of results published, revenue and dividends running ahead of IPO forecasts, a diverse and differentiated portfolio of attractive renewable energy assets, and a growing NAV supported by accretive investments, Downing Renewables and Infrastructure (DORE) is attracting the support of new investors. On 11 May 2022, the trust […]
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24 min read
Downing Renewables and Infrastructure Trust – Proving its mettle
Proving its mettle With a solid first set of results published, revenue and dividends running ahead of IPO forecasts, a diverse and differentiated portfolio of attractive renewable energy assets, and a growing NAV supported by investments that are helping to build NAV and profits, Downing Renewables and Infrastructure (DORE) is attracting the support of new […]
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23 min read
Downing Renewables and Infrastructure Trust – Proving its mettle
Proving its mettle With its first set of results published, revenue and dividends running ahead of IPO forecasts, a diverse and differentiated portfolio of attractive renewable energy assets, and a growing NAV supported by accretive investments, Downing Renewables and Infrastructure (DORE) appears to be attracting the support of new investors. On 11 May 2022, the […]
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18 Mar 2022 1 min read
Interview with Tom Moore and Henrik Dahlström of Downing Renewables Infrastructure
In this week’s show, James Carthew talked to Tom Moore and Henrik Dahlström of Downing Renewables Infrastructure. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us. Additionally, if […]
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26 Nov 2021 2 min read
QuotedData’s ESG Webinar – Environmental Day Playback
On the 16th November QuotedData hosted the first of three ESG focused webinars. This Environmental webinar began with opening remarks from Natalie Kenway of ESG Clarity and Julia Dreblow of SRI Services. We would like to thank all our speakers and our attendees for joining us. Opening Remarks – Natalie Kenway (ESG Clarity) and Julia […]
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12 Oct 2021 1 min read
Downing Renewables & Infrastructure Trust – Webinar Update
Only accessible to investors in the UK, Ireland and the Netherlands. Downing Renewables and Infrastructure Trust (DORE) held a webinar on Monday 11th October 2021 at 10am. On 29th September DORE announced its intention to raise new equity capital by way of a placing to raise up to c£25m. The issue price of 102.50 pence […]
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04 Aug 2021 11 min read
Downing Renewables and Infrastructure Trust – Ahead of expectations
Ahead of expectations It is still early in the life of Downing Renewables and Infrastructure Trust (DORE), yet, with an early focus on Swedish hydropower – 51% of the portfolio at the end of March 2021 – complemented by a diverse portfolio of UK solar assets, it already has a portfolio that is clearly differentiated […]
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11 min read
Downing Renewables and Infrastructure Trust – Ahead of expectations
Ahead of expectations It is still early in the life of Downing Renewables and Infrastructure Trust (DORE), yet, with an early focus on Swedish hydropower – 51% of the portfolio at the end of March 2021 – complemented by a diverse portfolio of UK solar assets, it can already boast a portfolio that is clearly […]
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12 min read
Downing Renewables and Infrastructure Trust – Ahead of expectations
Ahead of expectations It is still early in the life of Downing Renewables and Infrastructure Trust (DORE), yet, with an early focus on Swedish hydropower – 51% of the portfolio at the end of March 2021 – complemented by a diverse portfolio of UK solar assets, it can already boast a portfolio that is clearly […]
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26 May 2021 1 min read
QuotedData’s Spring Webinar Series – Renewables playback
On 26th May 2021, QuotedData hosted the last of three Spring webinars. This webinar was focused on Renewables and included presentations and Q&As from 4 investment companies’ managers, covering different aspects of this area. We were also joined by Dr JJ Traynor of Hydrogen One Capital who provided his insights into the hydrogen market. We would like […]
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20 Nov 2020 29 min read
Downing Renewables and Infrastructure Trust – Targeting attractive and sustainable income returns
IMPORTANT INFORMATION NB: Marten & Co has been paid to prepare this note on behalf of Downing Renewables and Infrastructure Trust Plc. This is a marketing communication and not a prospectus. The note is based upon publicly available information and information provided to us by Downing Renewables and Infrastructure Trust Plc and should be read […]
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29 min read
Downing Renewables and Infrastructure Trust – Targeting attractive and sustainable income returns
IMPORTANT INFORMATION NB: Marten & Co has been paid to prepare this note on behalf of Downing Renewables and Infrastructure Trust Plc. This is a marketing communication and not a prospectus. The note is based upon publicly available information and information provided to us by Downing Renewables and Infrastructure Trust Plc and should be read […]
News
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08 Nov 2024 3 min read
Renewables – don’t let the sun go down on me
There are plenty of factors which have contributed to the mediocre performance of UK equities over the last few years, both unavoidable and self-inflicted. However, the rationale behind the ongoing sell-off across the renewable energy infrastructure sector, as well as its scale, is one which we struggle to understand. Prior to the pandemic, most if […]
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27 Sep 2024 1 min read
QuotedData’s weekly news show 27th September 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: Chrysalis Investments (0:33) Downing Renewables and Infrastructure (3:11) abrdn Property Income (05:58) This week’s interview was with Paul Niven from F&C Investment Trust – watch it again here.
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26 Sep 2024 1 min read
Downing Renewables will sell Swedish wind farm
Downing Renewables & Infrastructure Trust says it has entered into exclusive discussions in relation to the sale of its entire interest in Gabrielsberget wind farm in Sweden. The offer price is at a small premium to the carrying value as at 30 June 2024 and the transaction is anticipated to complete in Q4 2024, turning […]
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19 Sep 2024 2 min read
Modest returns to start 2024, however portfolio progress continues for DORE
Downing Renewables & Infrastructure Trust (DORE) announced its interim results for the six months to 30 June 2024. The company’s NAV total return was flat over the period, although is up 4% over the past 12 months. The share price total return fell 9% and the discount was 33% at the time of publishing. Interim […]
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02 Sep 2024 1 min read
Downing Renewables & Infrastructure acquires three Swedish hydropower plants
Downing Renewables & Infrastructure (DORE) has committed to acquire three Swedish hydropower plants and their associated storage reservoirs. The combined expected annual average production is around 7 GWh, with a potential increase of 0.5 GWh after further upgrades have taken place. The total investment is expected to be around £5m. Once the transaction completes, DORE’s […]
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16 Aug 2024 1 min read
QuotedData’s weekly news show 16th August 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: JLEN Environmental Markets (0:17) Downing Renewables and infrastructure (6:26) This week’s interview was with Ian Lance from Temple Bar Investment Trust – watch it again here.
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12 Aug 2024 1 min read
Portfolio development driving strong returns for DORE
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 […]
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08 Jul 2024 2 min read
QuotedData’s morning briefing 8 July 2024 – HGT, DORE
In QuotedData’s morning briefing 8 July 2024: Hg, the manager of HgCapital Trust (HGT) has agreed the sale of its remaining investment in TeamSystem, to funds advised by Hellman & Friedman LLC (H&F). TeamSystem is a leading provider of business software solutions to businesses and accountants in Italy, Spain and Turkey. Hg first invested in […]
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03 Jul 2024 1 min read
QuotedData’s morning briefing 3 July 2024 – DORE, SYNC, HOME, BBOX
in QuotedData’s morning briefing 3 July 2024: Downing Renewables & Infrastructure (DORE) announced that Downing Hydro has pre-qualified its first hydropower plant site for participation in the Frequency Containment Reserve markets (FCR) in Sweden. The FCR markets serve to stabilise the Swedish grid. The initial site pre-qualified is the Gottne hydropower plant. The site is […]
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10 Jun 2024 2 min read
QuotedData’s morning briefing 10 June 2024 – DORE, SOHO, CLI
In QuotedData’s morning briefing 10 June 2024: Downing Renewables & Infrastructure Trust (DORE) has provided a Q1 NAV update for the three months ending 31 March 2024. DORE reported a NAV of £212.3m or 119.2p per share, a 1.3% increase from its 31 December 2023 value. Its NAV was primarily driven by positive FX movements, […]
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11 Apr 2024 2 min read
Solid results and promising dividend outlook for Downing Renewables
Downing Renewables and Infrastructure generated a positive NAV total return of 3.5% over 2023, the flatter figure for 2023 reflecting more normal power prices. In common with other renewables companies, the discount widened over the year; the share price fell to 90p from 113.5p and now stands at 75.2p, a 36.1% discount to the end […]
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08 Apr 2024 1 min read
QuotedData’s morning briefing 8 April 2024 – CLDN, DORE
In QuotedData’s morning briefing 8 April 2024: Caledonia Investments (CLDN) has provided a quarterly NAV and portfolio update, for the period ending 31 March 2024, ahead of its full year results to be released in May. CLDN has a NAV of £3.0bn, equal to £53.69 per share, which represents a 12 month total return of […]
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29 Jan 2024 2 min read
QuotedData’s morning briefing 29 January 2024 – BOOK, GCP, DORE, LMS, BBOX
In QuotedData’s morning briefing 29 January 2024: Literacy Capital (BOOK) has provided a quarterly trading update and NAV announcement for the fourth quarter of 2023. Over the period BOOK saw a NAV uplift of $4.6m, or 7.7p per share, equal to a quarterly return of 1.6%. Its total NAV for the end of 2023 was […]
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22 Dec 2023 3 min read
QD – review of the year
This is the last of our weekly emails for 2023. We hope that you have been finding them useful. We will be publishing our annual roundup in January. Ahead of that however, I thought it might be worth pulling out a few of the year’s highs and lows. In January, China’s market shone as hopes […]
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01 Dec 2023 3 min read
QD view – a sector in turmoil
Another week, another bout of corporate activity. Subject to shareholder approval, abrdn China is to be absorbed by Fidelity China Special Situations, and Troy Income and Growth will merge with STS Global Income and Growth. In addition, abrdn European Logistics Income announced a strategic review, Downing Renewables and Infrastructure Trust said that it would consider […]
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27 Nov 2023 2 min read
DORE floats the idea of a partial sale of its hydro assets
Downing Renewables and Infrastructure Trust (DORE) has released its operational update and NAV for the three months ending 30 September 2023. DORE’s NAV was £217.1m, or 118.7p per share for 30 September 2023, a 0.6% increase over the three months. A dividend of 1.345p per share was paid for the third quarter. DORE NAV movements […]
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13 Jul 2023 1 min read
Downing Renewables buys Swedish electricity distributor
Downing Renewables and Infrastructure has acquired a Swedish Electricity Distribution System Operator, Blåsjön Nät AB for about £7m. The deal involves the purchase of 100% of the share capital in Blåsjön, a regulated electricity distributor, which delivers 16-18 GWh per annum of electricity through medium and low voltage lines to its 1,547 domestic and business […]
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19 Jun 2023 1 min read
QuotedData’s morning briefing 19 June 2023
In QuotedData’s morning briefing for 19 June 2023: Hg Capital Trust (HGT) has announced that it has agreed to a part realisation of its investment in Azets Group, a leading provider of business-critical accounting, tax, payroll, audit and advisory services to SMEs. Azets was formed by Hg six years ago. The counterparty to this sale […]
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27 Apr 2023 1 min read
Downing Renewables buys UK solar assets from Gresham House VCTs
Downing Renewables & Infrastructure is buying a portfolio of operational solar PV assets located in the UK for £12.6m in cash. The 13.0 MWp portfolio of two ground-mounted sites and approximately 1,600 commercial and residential installations benefits from high levels of feed-in tariffs and renewable obligation certificate subsidies. The vendors are the two Gresham House […]
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03 Apr 2023 2 min read
A very strong year for DORE
Downing Renewables & Infrastructure Trust plc (DORE) has announced its annual results for the financial year ending 31 December 2022. DORE reported a NAV total return of 19.5% over the year, and a NAV growth of 15.5% (i.e. the underlying portfolio). DORE reported a share price total return of 21.1% over the same period. DORE […]
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24 Mar 2023 1 min read
Downing Renewables & Infrastructure taking advantage of own discount
Downing Renewables & Infrastructure (DORE) has announced that, in response to the discount to NAV the trust has been trading at recently, the board intends to commence buying back shares in the market where it believes this to be in shareholders’ interests. Both the board and manager think that the prevailing discount materially undervalues both […]
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16 Mar 2023 1 min read
Downing Renewables NAV still climbing
Downing Renewables and Infrastructure has announced an NAV as at 31 December 2022 and an update on operational performance. The NAV was 118.6p, up 0.8% on the NAV as at 30 September 2022 and after the payment of the dividend of 1.25p. The movement in NAV during the quarter was attributable to several factors: Portfolio […]
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02 Mar 2023 2 min read
Downing Renewables expands hydropower portfolio, ups dividend
Downing Renewables & Infrastructure Trust has bought two hydropower plants for a total of €5.8m. The two operational hydropower plants are located in Sweden’s SE2 electricity region. The deals are being funded through Downing’s available cash reserves. The first acquisition, completed in February 2023, is a c. 2.5 GWh hydropower plant in Högforsen, on the […]
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26 Jan 2023 2 min read
QuotedData’s morning briefing 26 January 2023
In QuotedData’s morning briefing 26 January 2023: Literacy Capital (BOOK) has published its quarterly trading and NAV update for the three months ending 31 December 2022. The NAV rose to 420.6p from 384.9p, contributing to a total NAV return of +9.3% in the last three months and +51.7% in the last twelve months. Portfolio companies […]
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25 Nov 2022 1 min read
QuotedData’s weekly news show 25th November 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Renewables/infrastructure NAVs • Digital 9 Infrastructure • NB Global Monthly Income • Home REIT This week’s interview was with Bruce Stout from Murray International […]
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24 Nov 2022 2 min read
No windfall tax hit for Downing Renewables
Downing Renewables and Infrastructure Trust says that its NAV for 30 September 2022 rose by 1.5p over the previous three months to 117.7p. The total return for the period, including the 1.25p dividend paid in the period, was 2.6%. The movement in NAV during the period was attributable to several factors: financial performance (+1.3pps); advantageous […]
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18 Nov 2022 1 min read
QuotedData’s weekly news show 18th November 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Long Term Assets • Renewables windfall tax This week’s interview was with Jeff O’Dwyer from Schroder European REIT – watch it again here. previous […]
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17 Nov 2022 1 min read
45% windfall tax on renewable electricity from 1 January 2023
45% windfall tax on renewable electricity from 1 January 2023 A new electricity generator levy will come into force from 1 January 2023 and run until 31 March 2028. The levy will be a new 45% tax on extraordinary revenues above a pre-crisis price baseline of £75 per MWh made by certain renewable, nuclear and […]
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21 Oct 2022 1 min read
QuotedData’s weekly news show 21st October 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • HICL Infrastructure – new NAV • Downing Renewables and Infrastructure – info re potential price cap impact This week’s interview was with Ross Driver […]
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17 Oct 2022 1 min read
Downing Renewables & Infrastructure – making sense of price caps for renewable generators
In light of both the UK Government’s proposal to introduce a “cost-plus-revenue limit” on renewable generators and the European Commission’s proposal for price caps for renewable generators, Downing Renewables & Infrastructure (DORE) has provided an update with respect to its forecast revenues for the periods 2023-2025 and 2026-2035 that were used for its 30 June […]
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15 Sep 2022 2 min read
QuotedData’s morning briefing 15 September 2022
In QuotedData’s morning briefing 15 September 2022, the news is dominated by interim results statements: Downing Renewables and Infrastructure (DORE) has made a great start to the year as it reports an NAV of 115.9p at end June 2022 and a total return for the first six months of the year of 14.1%. The portfolio […]
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23 Jun 2022 2 min read
QuotedData’s morning briefing 23 June 2022
In QuotedData’s morning briefing 23 June 2022: BlackRock World Mining Trust (BRWM) says that the up coming IPO of Ivanhoe Electric Inc. on Friday, 24 June 2022 would, at the mid-point of the announced IPO valuation range, add about 1.4% to its NAV. The trust’s investment consists of common shares of Ivanhoe Electric Inc. and […]
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07 Jun 2022 4 min read
Downing Renewables launches £50m fundraise
Downing Renewables & Infrastructure Trust is aiming to raise £50m through an issue of up to 45,669,495 new ordinary shares at 111p per share, and to establish a 12-month share issuance programme to issue up to 250m ordinary shares (less the number issued under this initial issue). Shareholders need to approve these plans. The net […]
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27 May 2022 1 min read
Downing Renewables & Infrastructure’s hydro debt facility classified as a green loan
Downing Renewables & Infrastructure (DORE) has announced that a €43.5m debt facility that its subsidiary, Downing Hydro AB, announced in December 2021 has been classified as a Green Loan by the lender, Skandinaviska Enskilda Banken (SEB), a leading corporate bank in the Nordics. Downing Hydro AB entered into the seven-year debt facility to finance its […]
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05 May 2022 2 min read
Downing Renewables ready to expand
Downing Renewables & Infrastructure Trust is buying (through its subsidiary Downing Hydro AB), a 100% interest in a portfolio of operational run-of-river hydropower plants in Sweden. The purchase price is about €20m and the vendors are Batten AB and Daturum AB. Initially, the deal will be funded by drawing down on the fund’s £25m revolving […]
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28 Apr 2022 1 min read
QuotedData’s morning briefing 28 April 2022
In QuotedData’s morning briefing 28 April 2022: Downing Renewables Infrastructure (DORE) says that recent additions to the portfolio (the Swedish wind asset and the Swedish hydropower portfolios) are expected to add around 3.7p to its NAV. These increases are due to operational and capital efficiencies as a result of the integration of the assets, particularly […]
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08 Apr 2022 1 min read
Interview with Tom Williams – Downing Renewables and Infrastructure Trust (DORE)
James Carthew, QuotedData’s Head of Investment Company Research, interviews Tom Williams of Downing Renewables and Infrastructure Trust (DORE). Watch the video to find out about DORE’s core sustainable objective, the reasons behind the fund’s focus on Northern Europe, the benefits of DORE in a high inflation environment as well as the dividend yields shareholders can […]
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11 Mar 2022 2 min read
QuotedData’s morning briefing 11 March 2022
In QuotedData’s morning briefing 11 March 2022: CQS Natural Resources Growth and Income (CYN) has announced its interim results for the six months ended 31 December 2021. CYN’s chairman, Richard Prickett says that, during the period, commodity markets were strong and interestingly for the sector higher interest rate expectations are supporting a broad market rotation […]
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07 Mar 2022 1 min read
Good start for Downing Renewables & Infrastructure
Good start for Downing Renewables & Infrastructure – Downing Renewables & Infrastructure (DORE) has announced its results for the period from 8 October 2020 to 31 December 2021. During the period under review, its NAV was up 5.5 pence per ordinary share at a total return of 7.9% while the share price total return was […]
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02 Feb 2022 3 min read
QuotedData’s morning briefing 2 February 2022
In QuotedData’s morning briefing 2 February 2022: 3i Infrastructure (3IN) has completed its further £258m investment in ESVAGT, the market leader in service operation vessels for the offshore wind industry, taking its equity stake to 100%. Downing Renewables and Infrastructure (DORE) has acquired an operational 46 MW onshore wind project located in north east Sweden […]
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21 Jan 2022 2 min read
Downing Renewables & Infrastructure acquires additional Swedish hydropower assets
Downing Renewables & Infrastructure (DORE) has announced that it has exchanged contracts to acquire two operational portfolios of hydropower plants located in central Sweden for a total consideration of approximately €25m. The first is a circa 12 GWh portfolio of hydropower plants from ÄSI Kraft AB located in the SE3 electricity pricing zone for approximately […]
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03 Dec 2021 2 min read
Downing Renewables and Infrastructure enters into new loan agreements
Downing Renewables and Infrastructure Trust (DORE) has announced that it has entered into two separate loan facility agreements: a £25 million Revolving Credit Facility (RCF) with Santander UK plc and a seven-year EUR 43.5 million debt facility with Skandinaviska Enskilda Banken AB (SEB) for its Swedish hydro assets. Both of these loan agreements have been […]
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18 Oct 2021 1 min read
Natalie Kenway from ESG Clarity will be providing opening remarks at QuotedData’s Annual ESG Conference
Following the success of our ESG Webinar Series in November/December 2020, we will be hosting this year’s ESG Webinar Series on 16th, 17th and 18th November 2021. Each morning will focus on a different aspect of ESG with managers having the opportunity to present on their companies and how the specific aspects of ESG are embedded in […]
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14 Oct 2021 2 min read
QuotedData’s morning briefing 14 October 2021
In QuotedData’s morning briefing 14 October 2021: Downing Renewables & Infrastructure Trust (DORE) raised £14.87m from its placing and the PrimaryBid offer, almost all of which came from the placing. The investment manager is also currently exploring options to optimise the existing capital structure, including the inception of a revolving credit facility. At 30 September […]
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08 Oct 2021 1 min read
Downing Renewables launches PrimaryBid offer
Downing Renewables & Infrastructure has announced, a conditional offer for subscription via the PrimaryBid platform. Investors can subscribe for new shares at an issue price of 102.5p. The issue price is a 1.68% discount to the closing share price of 104.25p on 28 September 2021 (the last business day before the proposed equity raise was […]
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01 Oct 2021 4 min read
QD View – Energy crisis, opportunity in uncertainty
The drivers that have led to the current energy crisis have been clearly visible for some time and reflect a number of long-term structural challenges that we face. Chief amongst these is climate change and the need to decarbonise but related to this are issues of energy security; the intermittency of renewables; battery technology that […]
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29 Sep 2021 1 min read
Downing Renewables & Infrastructure announces placing to raise £25m
Downing Renewables & Infrastructure announces placing to raise £25m – Downing Renewables & Infrastructure has announced its intention to raise new capital by conducting a placing of up to 24,499,999 new ordinary shares of £0.01 each at a price of 102.50 pence per share to raise up to around £25m. The price of 102.50 pence […]
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02 Sep 2021 2 min read
A great start for Downing Renewables & Infrastructure
A great start for Downing Renewables & Infrastructure – Downing Renewables & Infrastructure (DORE) has released its interim results for the six months to 30 June 2021, during which time, it raised gross proceeds of £122.5m. Its NAV increased from 98p per share immediately after its IPO on 10 December 2021, to 100.2p per share and […]
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1 min read
QuotedData’s morning briefing 2 September 2021
In QuotedData’s morning briefing 2 September 2021: Grainger (GRI) has raised £209m through the issue of 67,379,369 shares. The shares were placed at 310 pence, represnting a 4.6% discount to its closing price on 1 September. The private rented sector (PRS) specialist will use the proceeds to grow its portfolio of 10,000 homes. LondonMetric Property (LMP) […]
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27 May 2021 1 min read
Downing Renewables & Infrastructure to acquire utility company Elektra
Downing Renewables & Infrastructure to acquire utility company Elektra – Downing Renewables & Infrastructure has signed an exclusivity agreement with AB Edsbyns Elverk, a local Swedish multi-utility, to buy EE’s subsidiary Elektra Nät AB – a local regulated electricity distribution company – and a portfolio of three hydropower plants. The trust has submitted an indicative bid in […]
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2 min read
QuotedData’s morning briefing 27 May 2021
In QuotedData’s morning briefing 27 May 2021: Apax Global Alpha is committing $90m to the new Apax Digital Fund II. like Apax Digital, the new fund will invest in a balanced portfolio of minority equity and growth buyout opportunities in mid-market technology companies globally. Apax has a longstanding focus on the technology sector and a global reach. […]
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22 Mar 2021 2 min read
QuotedData’s morning briefing 22 March 2021
In QuotedData’s morning briefing 22 March 2021 – Flexible investment sector company, New Star (NSI), reported interim results to 31 December 2020, delivering a total NAV return of 8.7% and a total market return of 15.1%. NSI benefited from its allocations to UK smaller stocks and emerging market equities but its allocations to dollar cash and gold […]
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03 Feb 2021 1 min read
QuotedData’s morning briefing 3 February 2021
In QuotedData’s morning briefing 3 February 2021 – Chenavari Toro Income (TORO) reported annual results to 30 September 2020, with the total return NAV coming in at -11.2%. The share price total return was -15.2%. TORO’s chairman, Frederic Hervouet, noted that “TORO’s base case was assuming a second wave of defaults in H1 2021 with the annualised […]
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15 Jan 2021 1 min read
Downing Renewables and Infrastructure gets exclusivity on Lake Vänern wind farm
Downing Renewables & Infrastructure Trust (DORE) has announced that it has signed an exclusivity agreement with Bagnall Energy Limited in relation to a proposed investment in a 100 MW nearshore, shallow water wind farm. The wind farm is to be constructed in Lake Vänern in southern Sweden and developed by Cloudberry Clean Energy AS. DORE […]
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21 Dec 2020 1 min read
QuotedData’s morning briefing 21 December 2020
In QuotedData’s morning briefing 21 December 2020 – Schroder British Opportunities (SBO) announced its investment into Learning Curve Group (LCG), described as a leading private UK training and education specialist. SBO invested alongside Agilitas, a pan-European mid-market private equity firm. LCG represents SBO’s first private equity investment. LCG provides opportunities for over 120,000 learners and 4,500 employers […]
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30 Sep 2024 1 min read
Investment trust insider on my portfolio
Investment trust insider on my portfolio – James Carthew: New trusts for my portfolio Our columnist considers where to reinvest his cash from the Hipgnosis Songs takeover, and the forthcoming sale of assets in Abrdn Property Income. Flush with cash from the Hipgnosis (SONG) takeover and, soon perhaps Abrdn Property Income (API), which just announced […]
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23 Sep 2024 1 min read
Investment trust insider on good news for the investment companies sector
Investment trust insider on good news for the investment companies sector – James Carthew: Trusts that should rally on costs reform and rate cuts There was no pool of capital waiting to pounce on last week’s good news so there is still time to grab a bargain before over-sold investment companies start to bounce. On cost […]
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07 Aug 2024 1 min read
QuotedData’s Matthew Read: Renewing renewables
QuotedData’s Matthew Read: Renewing renewables ‘Strong outlook for energy demand’ The UK has a shiny new Labour government, but as dust from the UK general election settles, investors are asking: what opportunities could this present? This is not straightforward to answer. The election campaign was short, Labour was relatively tight lipped, and it will take […]
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31 Jul 2024 1 min read
Nine funds for high income and top total returns
by Jennifer Hill from interactive investor, 30th July 2024: In some cases, having a high yield can come at the cost of overall total returns, but it’s not always the case: certain funds allow investors to have their cake and eat it. Greencoat UK Wind The trust boasts a share price total return of 129.2% […]
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15 Jul 2024 1 min read
Trusts set to prosper under Labour
By Emma Wallis, News editor, Trustnet, 12 July 2024: Chancellor Rachel Reeves has barely been in office a week but has already announced planning reforms to “get Britain building again”.. Labour promised in its manifesto to build 1.5 million new homes during the next five years and is establishing a housing task force to tackle […]
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08 Jul 2024 1 min read
Investment trust insider on renewable energy funds
Investment trust insider on renewable energy funds – James Carthew: ‘Crazy’ lack of demand for cheap renewables funds Here’s hoping Labour’s new energy drive can help re-rate renewable infrastructure funds like Downing which offer good income and growth but trade on excessive share price discounts A few weeks ago, I put forward the buy case […]
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30 Apr 2024 1 min read
Income investment trusts yielding above 4% and beating inflation
by Kyle Caldwell from interactive investor, 30th April 2024: For income-seeking investors, the ideal scenario is to find a fund with a high yield that delivers inflation-beating dividend growth and produces positive total returns (capital growth and income returns combined). However, ticking all three boxes is hard to consistently achieve, which is reflected in research […]
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22 Sep 2023 1 min read
What investment trust boards are doing to address wide discounts
James Crux, Shares Magazine, 21 September 2023: According to data from the AIC, the average investment trust discount to net asset value has widened from 12.2% at the end of 2022 to 14.5% as of 8 September 2023, while sector averages have generally widened. The exception is private equity, which narrowed from 25.1% to 4.5%, […]
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07 Jun 2023 1 min read
Renewable energy investment trust faces continuation vote
by Sam Benstead from interactive investor, 7th June 2023: The London market’s only Europe-focused renewable energy investment trust faces the risk of being wound up, with investors set to vote on its continuation on 14 June., which was launched in summer 2019, owns solar, hydro and wind renewable energy assets across Europe, with a particular […]
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05 Dec 2022 1 min read
Clearer picture, calmer nerves for renewables?
James Carthew of QuotedData for Investment Week, 5 December 2022: Shifting sentiment has led to a widening of discounts to net asset value across many parts of the investment companies’ industry. One of the more unexpected deratings has occurred within the renewable energy infrastructure sector, despite two thirds of these funds generating double-digit NAV returns […]
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20 Oct 2022 1 min read
When will renewable energy investment trust prices recover?
By Val Cipriani, Investors’ Chronicle, October 19, 2022: While equities and bonds have taken a battering, infrastructure has become an increasingly popular asset class in the past year, with a reputation for helping investors’ fortunes while traditional strategies were busy plummeting. Renewable energy in particular looked attractive in an environment where energy can be sold […]
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12 Jul 2022 1 min read
Why these defensive investments will continue to deliver
Sam Benstead from interactive investor, 12th July 2022: Amid a sea of red this year, one sector is flashing green: infrastructure and renewables. Investors have had very few places to hide this year, as higher interest rates and inflation spark an exodus from the stock market. Year-to-date, US shares have fallen around 20% (S&P 500 […]
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1 min read
The best renewable energy infrastructure trusts
By Cherry Reynard, Investors’ Chronicle, July 6, 2022: Amid febrile stock markets, renewable energy infrastructure trusts should be a rare sweet spot. They offer inflation protection at a time of double-digit price rises, high dividends when income is scarce and access to renewables as policymakers strive to decarbonise. They are also exposed to rising power […]
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20 Jun 2022 1 min read
Big Dippers this year? Cheer up! A wild ride may be just the boost your funds need
By ROSIE MURRAY-WEST, FINANCIAL MAIL ON SUNDAY, 19 June 2022: With stock markets continuing to fall in recent days, many investment experts have reverted to using the ‘V’ word. That’s not V for victory, but V for ‘volatility’ – a term that seems to change its meaning when share price are in freefall. The FTSE […]
