Aquila European Renewables has entered into a sale and purchase agreement for its 18% interest in the Portuguese hydropower asset Sagres.
The Sagres Disposal is subject to the grant of customary regulatory approvals, with completion expected to occur by June 2025.
Aquila European Renewables, the London-listed investment company advised by Aquila Capital, announced on 24 October 2024 that, following the resolution by Shareholders on 30 September 2024 that the company pursue a managed wind down process, appointing Rothschild & Co as financial advisor to pursue a sale of the Company’s portfolio.
The cash consideration for the Sagres Disposal is approximately €16.5m, representing the prevailing valuation reflected in the Company’s net asset value as at 31 December 2024.
The board, of Aquila European Renewables, together with its advisers, continues to work on the divestment of the remainder of the company’s portfolio in accordance with the company’s managed wind-down investment policy.