Downing Renewables & Infrastructure Trust PLC's (LSE:DORE) Downing Hydro AB (DHAB) has pre-qualified its first hydropower plant site for the Frequency Containment Reserve markets (FCR-N and FCR-D) in Sweden.
The pre-qualification process, managed by Svenska Kraftnät (SvK), allows DHAB to operate in the FCR markets for the approved sites.
The Gottne hydropower plant is the initial site to receive pre-qualification. It is expected to start earning revenues from participation in the FCR-N and FCR-D markets in July 2024.
Henrik Dahlström, investment director at Downing, said: "We are pleased to have pre-qualified the Gottne hydropower site with SvK for two FCR markets.
“The ability to participate in the FCR markets provides DHAB with the opportunity to further optimise its income, earning revenues from both the spot market and the ancillary services markets."
Downing Hydro AB aims to accelerate the roll-out of FCR participation at further sites across the region.