Aquila European Renewables Income Completion of Acquisition (0598E)
July 02 2021 - 8:45AM
UK Regulatory
TIDMAERS TIDMAERI
RNS Number : 0598E
Aquila European Renewables Income
02 July 2021
2 July 2021
Aquila European Renewables Income Fund plc completes the
acquisition of a 50% interest in the Portuguese solar project
Ourique
Aquila European Renewables Income Fund plc ("AERIF" or "the
Company"), the London-listed investment company advised by Aquila
Capital Investmentgesellschaft mbH, is pleased to announce that
further to the RNS released on 1 April 2021, its fully owned
subsidiary, Tesseract Holdings Limited ("THL") has successfully
completed the acquisition of a 50% interest in the unlevered
Portuguese solar project Ourique.
Ourique is located in Alentejo, Portugal, and has an installed
capacity of c. 60 MWp. The solar farm started its operations in
December 2019 and its power price hedges cover 100% of the produced
energy until March 2026. It is expected to save 17,035 tonnes of
CO(2) emissions per annum, and an estimated 511,046 tonnes over the
lifetime of the project (100% interest basis).
With the completion of the Ourique acquisition, AERIF has now
deployed or committed (in the form of future capital calls related
to Albeniz and The Rock) all of its surplus capital which was
available for investment activity. Following the acquisition of
Ourique, solar PV now represents over 25% of AERIF's portfolio
(based on the fair values reported for 31 March 2021).
Ends
For further details contact:
Media contacts:
Smithfield Consultants
Ged Brumby | 020 3047 2527
John Kiely | 020 3047 2538
Andrew McLagan | 020 3047 2006
Sponsor, Broker and Placing Agent
Numis Securities 020 7260 1000
Tod Davis
David Benda
Vicki Paine
NOTES
Aquila European Renewables Income Fund plc ("AERIF" or the
"Company") is a London-listed renewable energy infrastructure
investment company with the aim to provide investors with an
attractive long-term, income-based return in EUR through a
diversified portfolio of hydropower, onshore wind and solar PV
investments across continental Europe and Ireland. Through the
diversification of generation technologies, the seasonal production
patterns of these asset types complete each other to balance the
cash flow, while the geographic diversification serves to reduce
exposure to one single energy market. AERIF is targeting 5.0 cents
per ordinary share in relation to the financial year ending 31
December 2021, with the aim of increasing this dividend
progressively over the medium term.
Further details can be found on AERIFs website at
www.aquila-european-renewables-income-fund.com .
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END
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