13 February 2025
Aquila European Renewables
plc
Net Asset Value and
Factsheet
Aquila European Renewables plc (the
Company), a Euro income fund, announces its unaudited net asset
value ("NAV") as at 31 December 2024, on a
cum-income basis, was EUR 320,231,508 or 84.69 cents per ordinary share. This
represents a NAV total return of -4.6% per Ordinary Share over the
quarter.
Key drivers of the NAV movement in
Q4 2024:
·
European power price curves have decreased, most
notably in the Nordics, driven by lower expectations for industrial
demand, delays and reductions in hydrogen production, postponed
battery developments and a resurgence of nuclear power (lifetime
extensions and new builds). In Iberia, a declining trend is also
observed, with an even sharper decrease in Spain. This is
attributed to an increased buildout of PV plants (+7.8 GW by 2030),
delays in the development of pump storage, and the interconnector
to central Europe (-4.1 cents per Ordinary Share)
·
An increase in risk free rate across the
portfolio, resulting in an increase to the portfolio discount rate
by approximately 10 bps to 7.3% (-1.0 cents per Ordinary
Share)
·
Following the growth of renewable energy in
Finland, investments in grid infrastructure have been the utmost
priority and as a result balancing and Fingrid costs have increased
substantially (-0.4 cents per Ordinary Share)
Further details will shortly be
available in the quarterly factsheet on the Company's website at:
https://www.aquila-european-renewables.com.
For further details
contact:
Sponsor, Broker and Placing
Agent
Numis Securities 020 7260
1000
Tod Davis
David Benda
George Shiel
www.aquila-european-renewables.com
LEI: 213800UKH1TZIC9ZRP41