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Aquila European Renewables Income Fund PLC - Invests in renewable energy technologies across continental Europe and Ireland - Says its investment adviser has secured a power purchase agreement for the solar photovoltaic project Jaen in Andalusia, Spain. Jaen project is part of the Greco solar PV portfolio. Greco is a multinational research project funded by the European Commission which puts open science and responsible research into the PV sector. Jaen has entered into a five year pay-as-produced power purchase agreement with Statkraft Markets GmbH at "an attractive price", whilst hedging 70% of P50 production. The pricing terms remain confidential.
In March, Aquila European Renewables acquired a 100% interest in the 100MWp Greco portfolio comprising Jaen and Guillena. The portfolio is currently under construction. Jaen is expected to be completed between late 2022 and early 2023 while Guillena is expected in second quarter of 2023.
Current stock price: 82.78 pence
12-month change: down 7.5%
By Chris Dorrell; chrisdorrell@alliancenews.com
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