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Funds News

Aquila renewables fund raises 127.5 mln euros via share issue

LONDON, Oct 9 (Reuters) - Aquila European Renewables Income Fund PLC said on Friday it had raised 127.5 million euros ($150 million) by issuing shares and the funds would be used to buy new assets.

The London-listed company, advised by Aquila Capital, said last month it planned to raise about 150 million euros for new investments by issuing 145 million shares, closing on Oct. 8.

“The new capital we have raised significantly increases the size of the fund, allowing us to continue our successful acquisition strategy and further diversify our fund,” said Christine Brockwell, lead investment adviser on behalf of Aquila European Renewables Income Fund.

“Our enhanced pipeline of 14 investment opportunities across a range of technologies and geographic locations positions the fund well for future growth,” she said, adding it would offer opportunities during Europe’s shift to a low carbon society.

The company has a portfolio of six renewable energy assets including five onshore wind parks located in the Nordic region and 21 hydropower plants in Portugal.

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