Aquila European Renewables Income Fund is targeting a €150m fundraising through a share issue to grow the company’s portfolio of clean energy assets.
The fund aims to issue 693 million ordinary shares, subject to shareholder approval, to raise the money.
Proceeds will provide capital to be invested in the company’s identified pipeline of opportunities that include wind and solar.
The enhanced pipeline consists of six target assets held in Aquila Managed Funds with an aggregate capacity of 768MW and eight target assets with an aggregate capacity of 661MW which are under negotiation.
The assets are across multiple technologies and geographical locations and include seven wind assets, four solar assets and three hydro assets.
Aquila European Renewables’ portfolio comprises six renewable energy assets, including five onshore wind parks in the Nordics, and a portfolio of 21 hydro power plants located in Portugal.
The issue will close on 8 October.