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Aquila European Renewables Income Fund acquires Desfina
StockMarketWire.com
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Aquila European Renewables Income Fund said it had entered into an agreement to acquire 89% of Desfina, an operational wind farm in Greece for an undisclosed amount.
Desfina, expected to have an operating life of 25 years, operated an onshore wind project consisting of two wind farms with an aggregate capacity of approximately 40 MW.
The project was supported by an attractive, 20 year, feed-in premium for 100% of production and had an existing long-term (15 year) debt financing in place of approximately €41.5 million, which would be retained as part of the acquisition.
'The project will save over 16,000 tonnes of CO2 emissions per annum and an estimated 400,000 tonnes over the projected lifetime of the asset,' the company said.
At 9:42am: (LON:AERS) share price was 0p at 95p
Story provided by StockMarketWire.com
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