European Energy has today closed the divestment of three turbines at the Svindbaek Wind Farm with Aquila European Renewables Income Fund, the London-listed investment company advised by Aquila Capital Investmentgesellschaft mbh.
The acquisition of the three turbines completes the acquisition of all wind turbines associated with the Svindbaek wind farm by Aquila European Renewables Income Fund.
The turbines provides for 9.6 MW of installed capacity and has been operating since 2018. The Project benefits from a Danish Premium tariff (feed-in premium structured as a Contract for Difference) for a fixed volume of production which is expected to last for ca. 9 years.
Knud Erik Andersen, CEO of European Energy A/S, said:
“We have had a constructive dialogue with Aquila Capital over the years and we have come to appreciate their professionalism and focus on driving the process forward. The sale means we have started the year on the right track.”
Christine Brockwell, Head of Partnerships & Portfolio Management at Aquila Capital, the Investment Adviser comments:
“AERIF is delighted to have partnered with European Energy on the acquisition of Svindbaek II. Svindbaek II will immediately contribute to AERIF’s annual dividend targets to its shareholders.”
The three turbines will cover the electricity consumption of approximately 7000 Danish households.
About Aquila European Renewables Income Fund:
Aquila European Renewables Income Fund (“AERIF” or the “Company”) is a London-listed renewable energy infrastructure investment company with the aim to provide investors with an attractive long-term, income-based return in EUR through a diversified portfolio of hydropower, onshore wind and solar PV investments across continental Europe and Ireland. Through the diversification of generation technologies, the seasonal production patterns of these asset types complete each other to balance the cash flow, while the geographic diversification serves to reduce exposure to one single energy market. AERIF is targeting an aggregate annual yield of 5.0% once fully invested.
About European Energy:
European Energy constructs wind and solar farms as well as large-scale green energy storage and have constructed more than 1.2 GW of generating capacity.