Aquila European Renewables Income Power Price Agreement Signed for Project Greco (5527B)
October 03 2022 - 5:41AM
UK Regulatory
TIDMAERS TIDMAERI
RNS Number : 5527B
Aquila European Renewables Income
03 October 2022
3 October 2022
Aquila European Renewables Income Fund plc
Power Purchase Agreement Signed for Project Greco (100 MWp)
Aquila European Renewables Income Fund plc ("AERIF" or "the
Company"), the London-listed investment company advised by Aquila
Capital Investmentgesellschaft mbH (the "Investment Adviser") is
pleased to announce that the Investment Adviser has secured a power
purchase agreement ("PPA") for the solar PV project Jaén, which is
part of the Greco solar PV portfolio.
In coordination with the Investment Advisers' Markets Management
Group, Jaén has entered into a five year pay-as-produced PPA with
Statkraft Markets GmbH at an attractive price, whilst hedging 70%
of P50 production. The pricing terms remain confidential.
In March 2022, the Company announced the acquisition of a 100%
interest in the 100 MWp Greco portfolio, comprising two solar PV
facilities, Jaén and Guillena, each with a nominal capacity of 50
MWp. The portfolio is currently under construction, with Jaén
expected to complete construction between late 2022 and early 2023,
whilst completion of Guillena is expected during the second quarter
of 2023.
The Investment Adviser will continue to explore PPA
opportunities for Guillena in advance of its completion.
Ends
For further details contact:
Media contacts:
Edelman Smithfield
Ged Brumby 07540 412301
Kanayo Agwunobi 07581 010560
Sponsor, Broker and Placing Agent
Numis Securities 020 7260 1000
Tod Davis
David Benda
Vicki Paine
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