Aquila European Renewables Income Fund (AERIF) has plans to acquire a 30-megawatt solar PV park in Spain for an undisclosed amount, according to news reports.
Construction was recently completed on the asset, known as Tiza, which is located in Spain’s Almería region.
"Tiza is an excellent addition to AERIF's portfolio and will directly contribute to dividend cover in 2022,” said Michael Anderson, senior manager at Aquila Capital. The deal is expected to close by third quarter 2022.
Aquila European Renewables Income Fund is a closed-ended investment company based in the United Kingdom. The company invests in a diversified portfolio of renewable-energy infrastructure investments in Europe and in the Republic of Ireland. Assets of interest include wind, photovoltaic and hydropower plants, as well as battery storage and transmission lines.