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

Aquila European RenewablesAnnouncement

07/08/2023 07:00

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RNS Number : 4215I  Aquila European Renewables PLC  07 August 2023

7 August 2023

Aquila European Renewables plc

 

Net Asset Value and Factsheet - June 2023

 

Aquila European Renewables plc (the Company), a Euro income fund, announces
its unaudited net asset value ("NAV") as at 30 June 2023, on a cum-income
basis, was EUR 403,255,872 or 104.09 cents per ordinary share. This represents
a decline in NAV total return of -4.2% per Ordinary Share over the quarter.

 

Key drivers of the NAV movement in Q2 2023:

 

o  Decrease in power price curves across the whole portfolio as a result of
lower commodity prices, reflecting a reduction in demand caused by mild
temperatures in Europe and elevated filling levels of gas storage reservoirs
(-8.1 cents per Ordinary Share).

o  Following completion of due diligence, asset life extensions have been
applied to one Danish wind asset (+4 years) and two Portuguese solar PV assets
(+10 years) (+1.2 cents per Ordinary Share).

o  Portfolio discount rate slightly decreased from 7.3% to 7.2% mainly due to
the ongoing de-risking of the assets which were under construction and have
subsequently been commissioned.

 

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%   -5 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 07540-412301

Ged Brumby

Hamza Ali

Emily Brazier

 

Sponsor, Broker and Placing Agent

Numis Securities 020 7260 1000

Tod Davis

David Benda

Vicki Paine

 

 

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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