19th Jun 2025 14:36
(Alliance News) - Aquila European Renewables PLC on Thursday completed the disposal of its hydropower asset in Portugal, amid the company's wind-down.
The London-based renewable energy investor is managed by Aquila Capital. Back in May, AER reported plans to sell its 18% stake in the Sagres hydropower project, noting that it had entered exclusivity with a preferred bidder.
The disposal was expected to generate proceeds of EUR16.5 million, in line with a valuation of Sagres at the end of 2024. However, AER on Thursday reported the actual sales figure slightly lower at EUR14.7 million.
The company expects to sell its remaining assets via three separate processes. Firstly, AER said it is progressing due diligence with a buyer for assets representing "less than a majority, but a substantial proportion" of the company. Transaction document negotiations are underway, with AER aiming to update further in July.
Additionally, the firm is planning the sale of its Olhava wind power asset in Finland. The timing is still under consideration, due to market changes after Finland joined the energy production balancing platform Picasso in the second quarter of 2025.
AER added it is pursuing a "focused sales process" of assets in a separate unnamed region.
The firm's shares were 3.2% higher at EUR0.65 on Thursday afternoon in London.
By Holly Munks, Alliance News reporter
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