REG - Aquila Euro Rnwbls. Aquila Eur R. - AERI - Completion of Acquisition

Aquila European RenewablesAnnouncement

23/12/2020 16:05

RNS Number : 7361J
  
Aquila European Renewables Income
  
23 December 2020
  
 

December 23, 2020 
Aquila European Renewables Income Fund plc completes acquisition of its first solar project in Spain
Aquila European Renewables Income Fund plc ("AERIF" or "the Company"), the London-listed investment company advised by Aquila Capital Investmentgesellschaft mbH, is pleased to announce that further to the RNS released on December 4, 2020, its fully owned subsidiary, Tesseract Holdings Limited has successfully completed the acquisition of a 100% interest in Albeniz a Spanish solar PV construction project, for an undisclosed amount. 
Albeniz is a 50 MWp project located in the South of Spain, one of the highest yielding regions for solar energy in Europe. The project also benefits from a fixed price, 5 year Power Purchase Agreement covering 60% of P50 production. The Company anticipates that the project will reach construction completion by the end of 2021.
 
Ends
For further details contact:
Media contacts:
Smithfield Consultants
Ged Brumby | 020 3047 2527
John Kiely | 020 3047 2538
Andrew McLagan | 020 3047 2006
 
Sponsor, Broker and Placing Agent 
Numis Securities 020 7260 1000
Tod Davis 
David Benda
Vicki Paine
 
Joint Financial Advisor
Kempen & Co +31 20 348 8000
Thomas ten Hoedt
Michiel Klomp 
Robin van Wijk
 
NOTES
Aquila European Renewables Income Fund plc ("AERIF" or the "Company") is a London-listed renewable energy infrastructure investment company with the aim to provide investors with an attractive long-term, income-based return in EUR through a diversified portfolio of hydropower, wind and solar PV 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. AERIF is targeting a minimum of 4.0 cents per ordinary share in relation to the financial year ending 31 December 2020 and 5.0 cents per ordinary share in respect of subsequent financial years, with the aim of increasing this dividend progressively over the medium term.
Further details can be found on AERIF 's website at www.aquila-european-renewables-income-fund.com 

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