1st May 2025 12:50
Aquila European Renewables PLC - managed by Aquila Capital, invests in European renewable energy assets - Agrees to sells its 18% stake in the Sagres hydropower project in Portugal, as part of the managed wind down process it started back in October. The company will receive EUR16.5 million from the Sagres sale, which is in line with the asset's valuation as of the end of 2024. The company notes, however: "Prevailing renewable market conditions remain uncertain and dynamic, and therefore there can be no guarantee that a similar outcome can be achieved on the sale of the company's remaining portfolio."
On Friday last week, Aquila European Renewables released its 2024 results, saying net asset value per share was 84.7 euro cents on December 31, down from 98.5 cents a year before.
Current stock price: EUR0.57
12-month change: down 20%
By Tom Waite, Alliance News editor
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