Aquila European Renewables PLC Net Asset Value & Factsheet (2605S)
November 03 2023 - 2:05AM
UK Regulatory
TIDMAERS TIDMAERI
RNS Number : 2605S
Aquila European Renewables PLC
03 November 2023
3 November 2023
Aquila European Renewables plc
Net Asset Value and Factsheet - September 2023
Aquila European Renewables plc (the Company), a Euro income
fund, announces its unaudited net asset value ("NAV") as at 30
September 2023, on a cum-income basis, was EUR 389,558,903.69 or
102.61 cents per ordinary share. This represents a NAV total return
of -0.1% per Ordinary Share over the quarter.
Key drivers of the NAV movement in Q3 2023:
-- Increase in Guarantees of Origin (GoO) price forecasts due to
stronger EU commitment for green sourcing, the EU sustainable
finance taxonomy, and the certification of sustainability of
hydrogen and e-fuels (+2.0 cents per Ordinary Share);
-- Decrease in power price curves in the Nordics due to
favourable hydrologic conditions and high renewable output, offset
by spot price increases in Iberia due to higher demand during the
summer season (-0.1 cents per Ordinary Share);
-- Increase in portfolio discount rate from 7.2% to 7.4%,
largely due to an increase in the risk-free rate. Taking into
account fund level leverage (RCF), the adjusted discount rate is
approximately 7.9%.
A sensitivity of NAV against discount rates, inflation and power
prices can be found below.
Assumption Impact on NAV
per
Ordinary Share
----------------------- ----------------
Discount rate +0.5% -6 cents
-------------- ----------------
-0.5% +6 cents
-------------- ------- ----------------
Inflation +0.5% +5 cents
-------------- ----------------
-0.5% -5 cents
-------------- ------- ----------------
Power price +10.0% +11 cents
-------------- ----------------
-10.0% -11 cents
-------------- ------- ----------------
Further details will shortly be available in the quarterly
factsheet on the Company's website at:
https://www.aquila-european-renewables.com.
For further details contact:
Media contacts
Edelman Smithfield
Ged Brumby 07540-412301
Hamza Ali 07976 308914
Sponsor, Broker and Placing Agent
Numis Securities 020 7260 1000
Tod Davis
David Benda
George Shiel
NOTES
The objective of Aquila European Renewables plc is to provide
investors with an attractive long-term, income-based return in EUR
through a diversified portfolio of wind, solar PV and hydropower
investments across continental Europe and Ireland. Through the
diversification of generation technologies, the seasonal production
patterns of these asset types complement each other to balance the
cash flow, while the geographic diversification serves to reduce
exposure to one single energy market. In addition, a balance is
maintained between government supported revenues, fixed price power
purchase agreements and market power price risk.
www.aquila-european-renewables.com
LEI: 213800UKH1TZIC9ZRP41
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