Last checked at 
6 Nov 2019 07:00
6 November 2019
Aquila European Renewables Income Fund plc
Net Asset Value and Factsheet - 30 September 2019
Aquila European Renewables Income Fund plc ("AERIF"), a Euro income fund, for the first time since its initial public offering in June announces its net asset value ("NAV") as at 30 September 2019.
The Company announces that its unaudited net asset value as at 30 September 2019, on a cum-income basis, was EUR 150,216,571 or 97.35 cents per ordinary share.
The NAV reflects the costs associated with the initial public offering, which were capped at 2% and also reflects minor timing effects associated with the strong investment activity. The company has invested in four fully operating assets within the first four months since its initial public offering ("IPO") which means that approx. 55.5% of the capital raised at IPO has been successfully invested.
As per 30 September, the company's portfolio is diversified across Portugal, Denmark, Norway and Finland.
The invested capital is allocated between the generation technologies of onshore wind (80.5%) and hydropower (19.5%) with a total net installed capacity of 305.5 megawatts ("MW").
The remaining cash is available for continuing the disciplined capital deployment throughout the remainder of the year.
Ian Nolan, the chairman of the Board: "We are very pleased that the Company had such a positive start with a strong realisation of its enhanced investment pipeline and look forward for further future investments. As the Company will require further capital in order to realise prospective opportunities the Board is open the issuance of new shares under the existing prospectus."
Further details will shortly be available in the quarterly factsheet on the Company's website at: https://www.aquila-european-renewables-income-fund.com.
For further details contact:
Media contacts:
Smithfield Consultants
Ged Brumby | 020 7903 2527
John Kiely | 020 3047 2538
Andrew McLagan | 020 3047 2006
Corporate Broker
Numis Securities 020 7260 1000
Tod Davis
David Benda
Vicki Paine
NOTES
Aquila European Renewables Income Fund ("AERIF" or the "Company") is a recently established, 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, onshore wind and solar PV investments across continental Europe and Ireland. Through the diversification of generation technologies, the seasonal production patterns of these asset types complete each other to balance the cash flow, while the geographic diversification serves to reduce exposure to one single energy market. AERIF is targeting an aggregate annual yield of 5.0% once fully invested.