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Aquila European Renewables Income Fund PLC - Hamburg-based investor in renewable energy infrastructure in Europe - Agrees to acquire a 30 megawatt-peak solar photovoltaic asset known as Tiza in Almeria, Spain for an undisclosed amount, with closing expected by the third quarter of 2022.
Asset has an assumed operating life of 30 years, and is already producing electricity and generating revenue. Aquila will fund the transaction through existing cash and its revolving credit facility, and the deal is expected to increase the fund's total solar PV portfolio generation capacity to 230 MWp.
"We are pleased to have committed over EUR120 million in capital in relation to both Greco and Tiza following the successful capital raising last year. We look forward to securing a PPA and a successful closing of the transaction," says Chair Ian Nolan.
Current stock price: 90.87 pence
12-month change: down 1.5%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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