REG - Aquila Eur Renwables Aquila Euro Rnw-AERI - Update on Sagres Disposal and Managed Wind-Down

Aquila European RenewablesAnnouncement

19/06/2025 12:00

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RNS Number : 6090N  Aquila European Renewables PLC  19 June 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

Update on Sagres Disposal and Managed Wind-Down

19 June 2025

Aquila European Renewables plc ("AERI" or the "Company"), the London-listed
investment company advised by Aquila Capital Investmentgesellschaft mbH
("Aquila Capital", the "Investment Adviser"), announced on 1 May 2025 and 9
May 2025 respectively that, the Company had entered into an SPA regarding the
Sagres Disposal and agreed non-binding Heads of Terms and entered into
exclusivity with a preferred bidder for the proposed disposal of a portion of
the Company's portfolio of assets and was pursuing a focused sale process in
relation to the balance of the portfolio of assets representing a single
geography.

The Company is pleased to announce that the Sagres Disposal has completed and
the Company is in receipt of sale proceeds of €14.7 million.

By way of further update, the Company now expects to sell its remaining assets
by way of three separate processes, as follows:

·    The Company is progressing due diligence with the preferred bidder
for the proposed disposal of a portfolio of assets, which now represents less
than a majority, but a substantial proportion of the Company's assets.
Transaction documents are being negotiated, and the Company expects to be able
to provide an update to shareholders in July 2025.

·    The Company continues to progress its focussed sales process in
relation to the balance of assets operating across a single region.

·    The Company expects to pursue an individual asset sale process for
its Finnish wind asset referred to as Olhava. Following recent changes in the
balancing market in Q2 2025 due to Finland joining the European aFRR
(automatic Frequency Restoration Reserve) platform PICASSO 1 , the Company is
currently considering the optimal timing and process for the disposal of
Olhava.

The Board will provide an update to shareholders when appropriate.

Enquiries:

 Deutsche Numis (Corporate Broker)  +44 (0) 20 7260 1000

 Hugh Jonathan

 George Shiel

 

Inside Information

The information contained within this announcement is deemed by Aquila
European Renewables plc to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No.596/2014 (as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018). On the
publication of this announcement via a Regulatory Information Service, such
information is now considered to be in the public domain.

The person responsible for making this announcement is Jennifer
Thompson of Apex Listed Companies Services (UK) Limited, the Company
Secretary.

 

 1  The Platform for the International Coordination of Automated Frequency
Restoration and Stable System Operation (PICASSO) is the implementation
project endorsed by all Transmission System Operators ("TSOs") through
ENTSO-E, the European Network of TSOs for Electricity.

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