Business
Project Greco Completion
Project Greco Completion.
About this update from Aquila European Renewables Plc Registered
[{"type":"text","content":"\n \n \n \n RNS Number : 4638G\n Aquila European Renewables Income\n 29 March 2022\n \n \n \n \n 29 March 2022\n \n \n Aquila European Renewables Income Fund plc\n \n \n \n \n \n Aquila European Renewables Income Fund plc completes the acquisition of a 100% interest in the Spanish solar project Greco\n \n \n \n \n \n \n \n \n Aquila European Renewables Income Fund plc (\"AERIF\" or \"the Company\"), the London-listed investment company advised by Aquila Capital Investmentgesellschaft mbH, is pleased to announce that further to the RNS released on 25 March 2022, its wholly owned subsidiary, Tesseract Holdings Limited has successfully completed the acquisition of a 100% interest in Greco, a Spanish solar PV construction project.\n \n \n \n \n \n The 100 MWp Greco portfolio consists of two assets which are located in the \n region of Andalucía, in the south of Spain, which benefit from attractive solar irradiation yields. Construction is currently underway and c\n ompletion is contingent upon the project receiving all of the requisite licenses and authorisations from local authorities (incl. the grid operator) and is expected by late 2022\n . \n \n \n \n \n \n Payment of the deferred consideration amount (EUR 90 million) plus any potential earn-out will be due at or after project completion.\n \n \n \n \n \n \n \n \n Ends\n \n \n For further details contact:\n \n \n Media contacts:\n \n \n Edelman Smithfield \n \n \n Ged Brumby | 020 3047 2527\n \n \n Kanayo Agwunobi | 020 3047 2126\n \n \n \n \n \n Sponsor, Broker and Placing Agent\n \n \n Numis Securities 020 7260 1000\n \n \n Tod Davis\n \n \n David Benda\n \n \n Vicki Paine\n \n \n \n \n \n Joint Financial Advisor\n \n \n Kempen & Co +31 20 348 8000\n \n \n Thomas ten Hoedt\n \n \n Michiel Klomp\n \n \n Robin van Wijk\n \n \n \n \n \n NOTES\n \n \n Aquila European Renewables Income Fund plc (\"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 seaso...