25th Mar 2022 17:38
Aquila European Renewables Income Fund PLC - Hamburg-based investment company - Agrees to acquire a 100 megawatt-peak solar photovoltaic portfolio, which is under construction in Spain, for around EUR90 million.
The Greco portfolio comprises two assets in Andalucia, which has an estimated project life of 30 years. Construction is underway with fencing and earthworks activities, with completion dependent on the project gaining all the required licences and approval from local authorities. All of this is expected to be completed by late 2022.
Once the project is completed, Greco will increase Aquila's total generation capacity by 30% to 432 megawatts.
"We are pleased to be able to secure another large scale, high quality solar PV project, which dramatically increases our allocation to solar PV, in-line with our portfolio targets," said Chair Ian Nolan.
Current stock price: 85.36 pence
12-month change: down 7.7%
By Dayo Laniyan; [email protected]
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