July 12, 2019 / 8:02 AM / 2 months ago

Aquila renewables fund acquires stake in Norwegian wind farm

LONDON, July 12 (Reuters) -

* Aquila European Renewables Income Fund has acquired 25.9% of the share capital in Midfjellet Vindkraft AS, one of Norway’s largest operating wind farms, it said on Friday.

* The value of the acquisition was not disclosed.

* Revenues will come from a power purchase agreement which covers 70% of expected energy production for the next 10 years, the fund said.

* Aquila has now invested around 40% of proceeds raised from its initial public offering on the London Stock Exchange in May, it added. (Reporting by Nina Chestney; Editing by Mark Potter)

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