REG - Aquila Eur Renwables Aquila Euro Rnw-AERI - NAV, Factsheet & Managed Wind-Down Update

Aquila European RenewablesAnnouncement

09/05/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250509:nRSI9762Ha&default-theme=true

RNS Number : 9762H  Aquila European Renewables PLC  09 May 2025

9 May 2025

Aquila European Renewables plc

 

Net Asset Value, Factsheet - March 2025 and Update on Managed Wind-Down

 

Net Asset Value and Factsheet

 

Aquila European Renewables plc (the Company), a Euro income fund, announces
its unaudited net asset value ("NAV") as at 31 March 2025, on a cum-income
basis, was EUR 317,429,353.87 or 83.95 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 Q1 2025:

 

·                 A further increase in risk free rate across
the portfolio, resulting in an increase to the portfolio discount rate by
approximately 20 bps to 7.5% (-2.0 cents per Ordinary Share)

·                 European power price curves across all
relevant power price regions of the portfolio remained stable over the last
quarter

·                 No further significant effects have been
noted

 

Further details will shortly be available in the quarterly factsheet on the
Company's website at: https://www.aquila-european-renewables.com.

Update on Managed Wind-Down process

 

The Company announced on 1 May 2025 that it had entered into a sale and
purchase agreement with the other shareholders in Sagres, being funds managed
and advised by Aquila Capital, for the sale of its 18% interest in the
Portuguese hydropower asset referred to as Sagres (the "Sagres Disposal").

 

The Board, together with its advisers, continues to work on the divestment of
the remainder of the Company's portfolio in accordance with the Company's
managed wind-down investment policy, with the aim to deliver the best end
result to AERI Shareholders. Whilst the Sagres Disposal is at a valuation in
line with the net asset value of the Company's interest in Sagres as at 31
December 2024, prevailing renewable market conditions remain uncertain and
dynamic and therefore there can be no guarantee that a similar outcome can be
achieved on the sale of the Company's remaining portfolio. As previously
announced, the Board's objective remains to complete the sale process as
quickly as possible providing liquidity to shareholders at a premium to the
share price, through realising assets at prices as close as possible to their
contribution to the reported Net Asset Value.

 

The Company is currently targeting for the managed wind-down process to be
completed by way of two discrete portfolio disposals:

 

·                 The Company has agreed non-binding Heads of
Terms and entered into exclusivity with a preferred bidder for the proposed
disposal of a portfolio of assets that represents a majority of the Company's
portfolio. Due diligence is progressing as planned, and the Company expects to
be able to provide an update to shareholders by the end of June 2025.

·                 The Company is simultaneously pursuing a
focussed sale process in relation to a portfolio of assets representing a
single geography.

 

The Board is content with the progress to date and will provide updates to
shareholders when appropriate.

 

For further details contact:

 

Media contacts:

Edelman Smithfield

Ged Brumby 07540-412301

 

Corporate Broker:

Deutsche Numis Securities 020 7260 1000

George Shiel

Hugh Jonathan

 

 

 

www.aquila-european-renewables.com (http://www.aquila-european-renewables.com)

 

LEI: 213800UKH1TZIC9ZRP41

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUWAKRVVUVRAR