None of the information provided is investment or tax advice. You should always read the associated risks before deciding whether to invest. These can be found on the product pages as well as in our risks overview. Please confirm you have read the information above.
Downing Renewables & Infrastructure Trust acquires Mersey Reactive Power
No items found.
Downing
What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
asdasd
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
This grid services asset became operational in May 2022 and was the first project to go live as part of the National Grid's Stability Pathfinder initiative. The project, which has an expected asset life of 40 years, supports Great Britain's electricity system in voltage management, providing increased network resilience, reducing costs to consumers and lowering carbon emissions. Mersey Reactive Power has an initial fixed priced, inflation-linked, availability-based contract with National Grid ESO until 2031.
Traditionally, reactive power services have been provided by large fossil fuel plants, but as we transition to low and zero carbon energy sources and large coal and gas generators are wound down, new sources and providers of reactive power are needed. The Mersey Reactive Power solution, based in Frodsham, Merseyside, comprises a shunt reactor which absorbs reactive power to increase the efficiency of the network and manage high voltage levels.
The acquisition will provide a new, long-term, revenue stream for DORE, one that is not derived from the sale of power on the wholesale markets. It demonstrates the Company's continued commitment to pursuing a highly diversified investment strategy. DORE will continue to seek similar opportunities in the grid services sector, constructing a portfolio designed to increase the stability of revenues and consistency of income to shareholders.
Tom Williams, Partner, Head of Energy & Infrastructure at Downing LLP, said: "The opportunity to further diversify DORE's portfolio and provide essential grid services in the UK is one that we could not overlook, and we are excited by our pipeline of potential opportunities in this sector of the energy market. Voltage management and grid stability are critical to the future success of decarbonisation. This attractive acquisition, when taken with other recent acquisitions by the Company, increases the Company's long-term fixed revenues in the UK, helping to provide our investors with diversified and stable returns."
