Downing Renewables and Infrastructure Trust - Update from QuotedData

19^th February 2025

Driving down the discount

Towards the end of 2024, Downing Renewables and Infrastructure Trust (DORE) announced the sale of its Swedish wind farm. The price achieved was a premium to the carrying value of the asset in the NAV as at 30 September 2024. This highlights the success that DORE's management team has had in creating value for shareholders. The wind farm was acquired for £19.8m in January 2022 and has generated sale proceeds and dividends for DORE of £29.8m, that is a 54% total return in less than three years.

After the sale, DORE will be able to repay all of its RCF, fund revenue and NAV-enhancing investment in the rest of the portfolio, and continue its substantial share buyback programme. The news was well received by investors and appears to have contributed towards a narrowing of the discount. However, we think that there is further to go on that front.

Full Research:

https://quoteddata.com/research/downing-renewables-and-infrastructure-trust-driving-down-the-discount-qd/

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