1st Apr 2021 20:00
Aquila European Renewables Income Fund PLC - renewable energy infrastructure investor - Agrees to acquire 50% of the equity in the Ourique solar operating plant in Alentejo, Portugal for an undisclosed sum.
The plant has an installed capacity of 60 megawatts peak, and the deal is expected to be completed in April. The solar farm started its operations in December 2019 and its power price hedges cover 100% of the produced energy until March 2026.
"We are pleased to announce that we have committed nearly all of the equity raised in October 2020 within five months. Ourique will contribute to reducing Europe's carbon footprint, and it further diversifies our technology mix," says Chair Ian Nolan.
Current stock price: 88.00 pence
Year-to-date change: down 8.6%
By Dayo Laniyan; [email protected]
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