Aquila European Renewables Income Fund (AERIF) has reported steady results for the six-month period ending 30 June 2022.
Net asset value (NAV) per ordinary share was 105.5 euro cents for the period, compared with 102.6 euro cents for the period ending 31 December 2021, achieving a return of 5.3%.
Net assets increased to €430.6m for the period ending 30 June 2022, compared with €417m for the previous period.
During the first half of 2022, AIRIF deployed or committed over €135m in two solar photovoltaic assets located in Spain for a total capacity of 130MW, representing the highest amount of capital deployed over a six-month period since the company’s IPO.
Further balance in portfolio technology mix was achieved, with solar PV and wind energy now representing 50.8% and 45.4% of portfolio fair value respectively, in line with targets, AERIF stated.
Albeniz, a 50MW Spanish solar PV project, reached completion, representing AERIF’s first construction project to do so.
Meanwhile, “substantial progress” was achieved at The Rock with 71 out of 72 turbines energised and with the last turbine due to be completed shortly.
Final negotiations are progressing for the issuance of the takeover certificates in the fourth quarter of 2022.