Aquila European Renewables Income Fund has raised €90m through a share issuance to invest in clean power projects.
The new shares will be issued at €1.03 per share, which represents a premium of 5.0% to Aquila’s ex-dividend net asset value as of 30 June 2021.
Application has been made for 87,424,431 shares to be admitted to the premium segment of the Official List, and to trading on the London Stock Exchange’s Main Market for listed securities.
It is expected that admission will become effective and dealings in these new shares will commence at 8am on the 14 September 2021, Aquila says.
These shares will, when issued, be credited as fully paid and rank pari passu with the existing shares in the capital of Aquila European Renewables, including the right to receive all future dividends and distributions declared, made or paid.
Aquila European Renewables Income Fund Chair, Ian Nolan said: “Since IPO in June 2019 we have successfully deployed or committed more than €327m across 10 projects diversified by geography, technology and contracted revenue mix.
“Our strong pipeline of opportunities and new capital from our supportive institutional investor base, will allow us to extend this excellent track record of deployment.
“With Europe’s energy transition well underway, we look forward to reinforcing our position at the forefront of the rapidly expanding renewable energy sector across the continent.”