Business
Completion of Norwegian wind farm sale
Completion of Norwegian wind farm sale.
About this update from Aquila European Renewables Plc Registered
[{"type":"text","content":"\n\n27 September 2024\n \nAquila European Renewables plc\n \nCompletion of Norwegian wind farm sale\n \nAquila European Renewables plc (\"AER\" or \"the Company\"), the London-listed investment company advised by Aquila Capital Investmentgesellschaft mbH (\"Investment Adviser\"), announces that it has completed the sale of its 25.9% interest in Tesla to Sunnhordland Kraftlag AS for consideration of EUR 27.0 million. The sale represents a premium of EUR 2.6 million above the prevailing valuation reflected in the Company's Q2 2024 Net Asset Value.\n \nAs outlined in the Company's announcement dated 5 September 2024, proceeds will be primarily used to fully repay the remaining drawn balance of EUR 26.1 million outstanding under the Company's Revolving Credit Facility (excluding existing bank guarantees outstanding of EUR 2.8 million). Based on AER's net asset value as at 30 June 2024, AER's total leverage is expected to reduce from 36.3% to 31.7% on a pro forma basis.\n \nENDS\n \nFor further information please contact:\n \nDeutsche Numis (Financial Adviser and Broker) +44 020 7260 1000\nDavid Benda \nGeorge Shiel\n \nMedia contacts\nEdelman Smithfield\nGed Brumby 07540 412 301\nHamza Ali 07976 308 914\n \nApex Listed Companies Services (UK) Limited (Company Secretary) +44 020 3327 9720\n \nNOTES\n \nAbout AER\nThe objective of Aquila European Renewables plc is to provide investors with an attractive long-term, income-based return in EUR through a diversified portfolio of onshore wind, solar PV and hydropower investments across continental Europe and Ireland. As a result of the diversification of energy generation technologies, the seasonal production patterns of these asset types compl...