REG - Aquila Eur Renwables Aquila Euro Rnw-AERI - Net Asset Value & Factsheet

Aquila European RenewablesAnnouncement

03/11/2023 07:15

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

 

LEI: 213800UKH1TZIC9ZRP41

 

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