Investment Update

RNS Number : 6893D

Aquila European Renewables Income

30 October 2020

 

30^th October 2020

Aquila European Renewables Income Fund plc closes its first solar project in Portugal

Aquila European Renewables Income Fund plc ("AERIF" or "the Company"),  the London-listed investment company advised by Aquila Capital Investmentgesellschaft mbH, announces that further to the RNS released on 11 September 2020,  it has successfully completed the acquisition of a 100% interest in a Portuguese solar portfolio for approximately EUR 16m.

The assets are located in the south of Portugal with an installed capacity of approximately 20 MWp. Each solar plant is operational and expected to have an operational life of up to 30 years. The portfolio will save approximately 9,495 tonnes of CO2 emissions per annum and an estimated 284,855 tonnes over the projected lifetime of the project. The assets benefit from 5-year fixed-price power purchase agreements with a state-owned utility.

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, wind and solar PV 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. AERIF is targeting a minimum of 4.0 cents per ordinary share in relation to the financial year ending 31 December 2020 and 5.0 cents per ordinary share in respect of subsequent financial years, with the aim of increasing this dividend progressively over the medium term.

Further details can be found on AERIF 's website at www.aquila-european-renewables-income-fund.com  

 

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