Aquila buys second Danish wind farm – Aquila European Renewables Income Fund has announced its second acquisition in Denmark and fifth across Europe. The company has acquired 100% of the shares in Svindbaek Vindkraft HoldCo ApS for a total consideration of EUR 25.3m.
Svindbaek is an onshore wind farm located on the west coast of Denmark with 22.4 MW of installed capacity. It benefits from a Danish Premium tariff (feed-in premium structured as a Contract for Difference) for a fixed volume of production which is expected to last for another 9 years.
Svindbaek helps to save 18,337 tons of CO(2) emissions which totals about 458,433 tons over the projected lifetime of Svindbaek (the annual average energy consumption of 5,098 households). The capital committed in the acquisition amounts to about 16.4% of the IPO proceeds, bringing the total to 72%.
This will be generating income for AERI straightaway and probably means that we can look forward to an attempt to expand the company early in 2020, markets permitting.
AERI : Aquila buys second Danish wind farm