Aquila European Renewables Income Fund PLC, a newly incorporated investment company, announced that it has raised gross proceeds of approximately $174 M (€154.3 M) in its initial public offering. The company will invest in a diversified portfolio of renewable energy technologies including wind, solar, and hydro across Europe, excluding UK.
Ian Nolan, chair of Aquila European Renewables Income Fund PLC, said: “The Aquila European Renewables Income Fund offers investors exposure to a portfolio of assets that investors, typically, have had limited opportunities to access. We are extremely pleased given the challenging political and economic environment to have raised nearly €155m million at launch, from high quality institutional investors. It is one of the most successful share placings by a listed fund this year and the first continental European manager in the segment.”
Applications will be made to the London Stock Exchange for 154,304,752 Ordinary Shares, with trading expected to commence on 5 June 2019.
Hamburg-based Aquila Capital is the fund's investment adviser.
Source: Smithfield Consultants