REG - Aquila Eur Renwables Aquila Euro Rnw-AERI - Completion of Norwegian wind farm sale

Aquila European RenewablesAnnouncement

27/09/2024 10:45

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RNS Number : 0283G  Aquila European Renewables PLC  27 September 2024

27 September 2024

 

Aquila European Renewables plc

 

Completion of Norwegian wind farm sale

 

Aquila European Renewables plc ("AER" or "the Company"), the London-listed
investment company advised by Aquila Capital Investmentgesellschaft mbH
("Investment Adviser"), announces that it has completed the sale of its 25.9%
interest in Tesla to Sunnhordland Kraftlag AS for consideration of EUR 27.0
million. The sale represents a premium of EUR 2.6 million above the prevailing
valuation reflected in the Company's Q2 2024 Net Asset Value.

 

As outlined in the Company's announcement dated 5 September 2024, proceeds
will be primarily used to fully repay the remaining drawn balance of EUR 26.1
million outstanding under the Company's Revolving Credit Facility (excluding
existing bank guarantees outstanding of EUR 2.8 million). Based on AER's net
asset value as at 30 June 2024, AER's total leverage is expected to reduce
from 36.3% to 31.7% on a pro forma basis.

 

ENDS

 

For further information please contact:

 

Deutsche Numis (Financial Adviser and Broker) +44 020 7260 1000

David
Benda

George Shiel

 

Media contacts

Edelman Smithfield

Ged Brumby 07540 412 301

Hamza Ali 07976 308 914

 

Apex Listed Companies Services (UK) Limited (Company Secretary) +44 020 3327
9720

 

NOTES

 

About AER

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 onshore wind, solar PV and hydropower investments across
continental Europe and Ireland. As a result of the diversification of energy
generation technologies, the seasonal production patterns of these asset types
complement each other, providing a balanced cash flow profile, while the
geographic diversification serves to reduce exposure to any one single energy
market. In addition, a balance is maintained between government supported
revenues, fixed price power purchase agreements and market power price risk.

 

Further details can be found at: www.aquila-european-renewables.com
(http://www.aquila-european-renewables.com)

 

LEI Number: 213800UKH1TZIC9ZRP41

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