Overview
Aquila European Renewables (formerly Aquila European Renewables Income Fund) aims to generate stable returns, principally in the form of income distributions, by investing in a diversified portfolio of renewable energy infrastructure investments in continental Europe and the Republic of Ireland. The portfolio will comprise wind, photovoltaic and hydropower plants that generate electricity through the transformation of the energy of the wind, the sunlight and running water as naturally replenished resources, and non-generation renewable energy related infrastructure associated with the storage (such as batteries) and transmission (such as distribution grids and transmission lines) of renewable energy, in each case either already operating or in construction/development.
We have published some notes that seeks to explain what the fund is trying to achieve
Powering through was published on 8 March 2024
Sunny days are here again, was our initiation note, which was published on 14 June 2023
QuotedData’s James Carthew also wrote about the IPO in Investment Trust Insider
You can access the company’s website here
Fundamentals
Price
Research History
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08 Mar 2024 12 min read
Aquila European Renewables – Powering through
Aquila European Renewables Investment Companies | Update | 8 March 2024 Powering through A number of factors have combined to have a small negative effect on Aquila European Renewables’s (AERI’s) NAV and discount in recent weeks, including nerves about when interest rates will be cut, lower power prices, and the imposition of new taxes on […]
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10 min read
Aquila European Renewables – Powering through
Aquila European Renewables Investment companies | Update | 8 March 2024 Powering through A number of factors appear to have combined to have a small negative effect on Aquila European Renewables’s (AERI’s) NAV and discount in recent weeks, including nerves about when interest rates will be cut, lower power prices, and the imposition of new […]
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12 min read
Aquila European Renewables – Powering through
Aquila European Renewables Investment companies | Update | 8 March 2024 Powering through A number of factors have combined to have a small negative effect on Aquila European Renewables’s (AERI’s) net asset value (NAV) and the share price discount to NAV in recent weeks, including nerves about when interest rates will be cut, lower power […]
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14 Jun 2023 22 min read
Aquila European Renewables – Sunny days are here again
Aquila European Renewables Investment companies | Initiation | 14 June 2023 Sunny days are here again Aquila European Renewables (AERI) is about four years old. Since launch, it has built up a 464MW portfolio of operational solar, wind and hydropower projects, spread across six European power markets. It has also generated returns in line with […]
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23 min read
Aquila European Renewables – Sunny days are here again
Aquila European Renewables Investment companies | Initiation | 14 June 2023 Sunny days are here again Aquila European Renewables (AERI) is about four years old. Since launch, it has built up a 464MW portfolio of operational solar, wind and hydropower projects, spread across six European power markets. It has also generated returns in line with […]
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22 min read
Aquila European Renewables – Sunny days are here again
Aquila European Renewables Investment companies | Initiation | 14 June 2023 Sunny days are here again Aquila European Renewables (AERI) is about four years old. Since launch, it has built up a 464MW portfolio of operational solar, wind and hydropower projects, spread across six European power markets. It has also generated returns in line with […]
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19 May 2023 1 min read
Interview with Michael Anderson from Aquila European Renewables
In this week’s show, James Carthew spoke to Michael Anderson from Aquila Capital European Renewables. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us on [email protected]. Additionally, if you […]
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07 Dec 2022 8 min read
QuotedData’s Investment Companies Roundup – December 2022
Investment Companies Monthly Roundup Kindly sponsored by abrdn December 2022 Monthly | Investment companies Winners and losers in November 2022 As discussed in this month’s economic and political roundup, lower US inflation triggered a fall in the US dollar and drove equity markets higher over November. The big surprise was the resurgence of Chinese markets […]
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06 Oct 2022 111 min read
QuotedData’s Economic and Political Monthly Roundup October 2022
Economic and Political Monthly Roundup Investment companies | Monthly | October 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to […]
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16 Oct 2020 11 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research Guide The legal bit Stubborn resistance The end […]
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07 May 2020 8 min read
QuotedData’s Investment Companies Roundup – May 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over April: An update note […]
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4 min read
QuotedData’s Economic Roundup – May 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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12 Jul 2019 6 min read
Quarterly investment companies roundup – Second quarter 2019
Quarterly investment companies roundup – Second quarter 2019 QuotedData news Global equities re-found momentum in June after a cautious April and May. How much longer this ten-year bull market can sustain itself continues to be the subject of much debate. The prospect of interest rate cuts in the US has re-invigorated sentiment for the time […]
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07 Jun 2019 3 min read
QuotedData’s investment companies roundup – June 2019
Investment Companies Roundup New research Over May, we published notes on Shires Income, Standard Life Private Equity and The North American Income Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was notable that risk appetite was down in May as renewed […]
News
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13 Sep 2024 1 min read
QuotedData’s weekly news show 13th September 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: Aquila European Renewables (0:19) Gulf Investment Fund (3:35) Keystone Positive Change (6:47) JPMorgan Emerging EMEA Securities (9:47) This week’s interview was with Jon Forster from Impax Environmental Markets – watch it again here.
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12 Sep 2024 2 min read
Aquila European preps ground for managed wind-down
Aquila European Renewables says that the board has consulted extensively with shareholders and believes that it would lose a continuation vote. It is now publishing a circular to convene a meeting at which shareholders will be asked to approve a managed wind-down of the company. Background A continuation vote in 2023 was built into the […]
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05 Sep 2024 1 min read
Aquila European sells stake in Norwegian wind farm
Aquila European Renewables has entered into a sale and purchase agreement with Sunnhordland Kraftlag AS to sell its 25.9% interest in the Tesla wind farm for about €27.1m. Tesla is a 150 MW operating onshore wind farm located in Southern Norway, which was bought by Aquila European in 2019. The buyer is a Norwegian energy […]
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10 May 2024 1 min read
QuotedData’s weekly news show 10th May 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Aquila European Renewables (0:12) • North American Income (4:51) • Ashoka WhiteOak Emerging / Asia Dragon (7:49) This week’s interview was with Richard Pindar from Literacy […]
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2 min read
Shareholders want Aquila European Renewables to retain its independence
Following the announcement on 22 December 2023 of an approach from Octopus Renewables Infrastructure Trust (ORIT – click here to see our coverage of this) and then subsequently that its board was looking at possible combinations with other investment trusts, Aquila European Renewables (AERI) has said that, following consultation with its shareholders, it has received […]
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25 Apr 2024 2 min read
Improving outlook after tough year for Aquila European Renewables
Aquila European Renewables (AERI) announced its annual results for the year end 31 December 2023. The NAV total return was -6.0% while shares fell -9.0% with the discount widening to 20.3%. The company cited substantial interest rate increases, supply chain disruptions and falling commodity and electricity prices for the negative returns. AERI did deliver a […]
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25 Mar 2024 2 min read
QuotedData’s morning briefing 25 March 2024 – BOOK, SBO, HLCL, GSF, AERI
In QuotedData’s morning briefing 25 March 2024: Literacy Capital (BOOK) has announced a new investment in the Live Business Group, a leading international entertainment supplier to the travel, tourism and leisure industry. BOOK has taken what it describes as a significant minority stake in the London-based firm, with the actual terms being undisclosed. BOOK’s investment […]
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26 Feb 2024 1 min read
QuotedData’s morning briefing 26 February 2024 – SONG, HMSO, AERI, MPLF
In QuotedData’s morning briefing 26 February 2024: Hipgnosis Songs Fund (SONG) has confirmed that following its previous announcement on 19 February, Mr Mercuriadis and the Investment Adviser have refused to indemnify the trust against liabilities which may arise from his alleged misconduct. SONG now intends to bring a Part 20 Claim in the High Court […]
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06 Feb 2024 1 min read
Aquila European Renewables provides Q4 update
Aquila European Renewables has provided a Q4 update for the period ended 31 December 2023. The company saw a NAV total return of -2.6% while total shareholder return over the quarter was -4.1%, with the discount widening to 20.3%. Key drivers of the NAV movement in Q4 2023 were the impact of changes to Norway’s […]
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18 Jan 2024 1 min read
Aquila European manager in tie up with Commerzbank
Aquila Capital Investmentgesellschaft (Aquila European Renewables’ manager) and Commerzbank have entered into a strategic partnership, with Commerzbank buying a 74.9% stake in Aquila Capital Investmentgesellschaft. Aquila Group will remain permanently engaged as a shareholder with its remaining shares and will be responsible for operational and investment continuity. The agreement was signed on 20 December 2023 […]
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08 Jan 2024 2 min read
QuotedData’s morning briefing for 8 January 2024 – AERI, CORD, SMIF, ICG, CLDN, RTW, LMP, PSDL
In QuotedData’s morning briefing for 8 January 2024: Aquila European Renewables (AERI) has announced that it has entered into a €50m five-year debt facility with ING Bank N.V. Sucursal en España. The facility is secured by AERI’s wholly owned Spanish solar PV portfolio, with the leverage equal to 26%. The pricing of the debt remains […]
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22 Dec 2023 3 min read
QD – review of the year
This is the last of our weekly emails for 2023. We hope that you have been finding them useful. We will be publishing our annual roundup in January. Ahead of that however, I thought it might be worth pulling out a few of the year’s highs and lows. In January, China’s market shone as hopes […]
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3 min read
Octopus Renewables Infrastructure proposes merger with Aquila European Renewables
Octopus Renewables Infrastructure Trust (ORIT) and Aquila European Renewables (AERI) have made announcements in relation to proposals for a merger between the two companies that could create one of the largest LSE listed diversified renewable energy investment trusts. However, in its response, AERI, says that the proposals from ORIT were unsolicited and that “together with […]
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19 Oct 2023 2 min read
QuotedData’s morning briefing 19 October 2023 – HTCF, RSE, ABD, PIN, AERI, ASLI, AEWU
In QuotedData’s morning briefing 19 October 2023: Highbridge Tactical Credit (HTCF) will compulsorily redeem almost all of its shares on 1 November 2023 and then go into liquidation. Round Hill Music (RHM) shareholders overwhelmingly approved the takeover by Concord Bidco. The shares will stop trading before the market opens on 31 October and shareholders should […]
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02 Oct 2023 2 min read
QuotedData’s morning briefing 2 October 2023 – ICG, TMI, PEY, AERI, MWY, AIRE, SERE, JLEN
In QuotedData’s morning briefing 2 October 2023: India Capital Growth Fund (ICG) has announced that its investment manager, Ocean Dial Asset Management, has been acquired by AssetCo. As a result ICG will come under the River and Mercantile brand in due course, which will increase the resources available to ICG. Taylor Maritime Investments (TMI) has […]
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28 Sep 2023 2 min read
QuotedData’s morning briefing 28 September 2023 – BRGE, USF, RSE, AERI, ASLI, UKCM, SERE
In QuotedData’s morning briefing 28 September 2023: BlackRock Greater Europe (BRGE) says that Alexandra Dangoor is being made co-portfolio manager, alongside lead manager Stefan Gries. The effective date for this appointment will be from close of business on 29 September 2023. Alexandra joined the BlackRock Fundamental European Equity Team in 2019 after two years in […]
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30 Aug 2023 1 min read
QuotedData’s morning briefing 30 August 2023 – AERI, AJOT, AWEM, LMP
In QuotedData’s morning briefing 30 August 2023: The board of Aquila European Renewables (AERI) has announced the appointment of Myrtle Dawes as a non-executive director with effect from 1 September 2023. Myrtle has over 30 years’ experience of the energy sector, both in the UK and overseas. She is CEO of the Net Zero Technology […]
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07 Aug 2023 1 min read
Aquila European Renewables NAV reflects lower prices
Aquila European Renewables published its end June factsheet this morning and has announced a fall in its NAV from 110.1 cents at 31 March to 104.1 cents. The main drivers of this fall were beyond its control. Chief of them was a decline in the power price assumptions which is attributed to lower commodity prices […]
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28 Jul 2023 3 min read
QD view – The new reality for renewables
In light of our upcoming investment trust forum on the 5th of October, I thought I would take this opportunity to look at one of our panel discussion topics. As the title suggests, it focuses on what the future might look like for renewable energy investments. The bulk of the exposure to this theme is […]
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15 Jun 2023 1 min read
QuotedData’s morning briefing 15 June 2023
In QuotedData’s morning briefing 15 June 2023: Aquila European Renewables (AERI) passed its continuation vote at the AGM yesterday. The vote was roughly 75:25 in favour of continuation. [We would expect that next year’s continuation vote (brought forward from 2027) will actually prove less contentious. As we explain in the note published yesterday, with all […]
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02 Jun 2023 1 min read
QuotedData’s weekly news show 2nd June 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • TR Property (0:32) • Aquila European Renewables (10:36) Andrew McHattie provided an update on NAV and price performance during May and highlights anomalies activity […]
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30 May 2023 2 min read
QuotedData’s morning briefing 30 May 2023
JPMorgan China Growth & Income (JCGI) announced its half year report for the year ended 31 March 2023. During this period, JCGI delivered a total return on net assets of 7.9% (in sterling terms), compared to the benchmark return of 7.3%. This positive performance follows a challenging time for the company in the last financial […]
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18 May 2023 2 min read
QuotedData’s morning briefing 18 May 2023
In QuotedData’s morning briefing 18 May 2023: JLEN Environmental Assets (JLEN) NAV at end March 2023 slipped very marginally (0.4p) from the level at end December. Falling near-term power prices, which have affected other renewable energy funds, are less impactful on JLEN, which has a high degree of protection from short term price hedges as […]
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26 Apr 2023 2 min read
Strong year despite discount for Aquila European Renewables
Aquila European Renewables (AERI) announced its annual results for the year-end December 2022. The company added +184.7 MW of operating capacity during the year, an increase of 80.7%. NAV increased 12.7%, the largest growth since IPO while revenue came in 20.4% ahead of expectations thanks to favourable energy pricing during the period. The results cap […]
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05 Apr 2023 2 min read
QuotedData’s morning briefing 5 April 2023
Schroder AsiaPacific Fund (SDP) has announced the appointment of Rupert Hogg as an independent non-executive director of the company, with effect from 1 May 2023. Mr Hogg will also be a member of the audit and risk, nomination and management engagement committees. Aquila European Renewables (AERI) announced that Guillena, a 50 MWp solar PV asset […]
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03 Feb 2023 1 min read
QuotedData’s weekly news show 3rd February 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Triple Point Social Housing (1:05) • Aquila European Renewables (7:05) Andrew McHattie’s summary on social housing sector (13:49). This week’s interview was with Will […]
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2 min read
Aquila European Renewables announces 2023 dividend target and buyback programme
Aquila European Renewables (AERS) has announced dividend guidance for its current financial year ending 31 December 2023. AERS is targeting a dividend of €c5.51 per share, subject to the portfolio performing in line with expectations. The 2023 target dividend represents an increase of 5% versus the prior year and follows a 5% increase in the […]
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23 Dec 2022 2 min read
Aquila European Renewables announces completion of project Jaén
Aquila European Renewables (AERI) has announced that Jaén, a 50 MWp solar PV asset located in southern Spain that is part of the Greco portfolio, has completed construction and is now operational. Jaén was acquired, in full, in March 2022 and following the completion of the project, AERI has paid consideration of €42.5m to the […]
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22 Nov 2022 2 min read
QuotedData’s morning briefing 22 November 2022
In QuotedData’s morning briefing 22 November 2022: Aquila European Renewables (AERI) says that 95% of all 72 turbines at its Norwegian Rock project are now in operation, whilst the remaining turbines are subject to corrective maintenance. A production-based availability warranty will cover any losses if availability is below 97% in the first year of operations […]
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31 Oct 2022 2 min read
QuotedData’s morning briefing 31 October 2022
In QuotedData’s morning briefing for 31 October 2022: Riverstone Credit Opportunities Income (RCOI) has announced an upsize of its investment in Harland & Wolff Group Holdings PLC (“Harland & Wolff”),which focuses on strategic infrastructure projects and physical asset lifecycle management across five core industries: renewables, oil & gas, defence, cruise & ferry and commercial. In […]
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04 Oct 2022 2 min read
QuotedData’s morning briefing 4 October 2022
In QuotedData’s morning briefing 4 October 2022: Mobius Investment Trust (MMIT) is offering investors a voluntary redemption opportunity as at 30 November 2022. However, performance has been good and the shares are trading close to NAV so we doubt that there will be much take up of the offer. Redemption requests have to be submitted […]
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30 Jun 2022 2 min read
QuotedData’s morning briefing 30 June 2022
In QuotedData’s morning briefing 30 June 2022: Riverstone Credit Opportunities Income (RCOI) has realised its investment in Roaring Fork Midstream, crystalising a 21.3% IRR and 1.16x MOIC. The loan was made in March 2021, with a $5.9m first lien delayed-draw term loan to sponsor-backed Roaring Fork Midstream, a company which owns and operates pipeline and […]
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27 Jun 2022 2 min read
Aquila European updates on Albeniz and The Rock
Aquila European Renewables Income Fund says that, with energisation completed, its Albeniz asset is now fully operational and producing revenue. Albeniz is a 50 MWp solar PV project located in the south of Spain acquired in December 2020. The asset is expected to have an operating life of 30 years after commissioning. Albeniz benefits from […]
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09 Jun 2022 2 min read
QuotedData’s morning briefing 9 June 2022
In QuotedData’s morning briefing 9 June 2022: NextEnergy Solar Fund (NESF) now has its hundredth operating solar asset, an 181kW commercial rooftop solar power asset located on a Holiday Inn in Nottinghamshire. The asset benefits from an attractive 25-year power purchase agreement for 100% of its generated volume. This is the final investment under the […]
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16 May 2022 1 min read
Aquila European Renewables Income acquires new solar asset
Aquila European Renewables Income acquires new solar asset – Aquila European Renewables Income (AERI) has entered into a sale and purchase agreement to acquire a 30 MWp operating solar PV asset called Tiza for an undisclosed amount expected to close by Q3 2022. Tiza is located in the Almería region, in the south of Spain, […]
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10 May 2022 1 min read
QuotedData’s morning briefing 10 May 2022
In QuotedData’s morning briefing 10 May 2022: Sadly, we have to report the death on 4 May 2022 of Robin Angus. “It is with great sadness that the board of Personal Assets Trust announces that Robin Angus, who was the company’s executive director until his retirement in September 2020, passed away on 4 May 2022. […]
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28 Apr 2022 1 min read
Aquila European results overshadowed by discount problem
Aquila European Renewables Income Fund’s results for the year ended 31 December 2021 show an NAV total return of 7.6%, but after some discount widening, a return to shareholders of just 0.5%. Dividends totalled 5 cents per share (in-line with its target) and these were covered 1.1 times. The dividend target for the current financial […]
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30 Mar 2022 2 min read
QuotedData’s morning briefing 30 March 2022
In QuotedData’s morning briefing 30 March 2022: Taylor Maritime (TMI) has agreed to sell a 2004 built Handysize vessel for $11.6m. The vessel was an IPO seed asset and the sale is expected to complete in Q2 2022, generating an IRR in excess of 200% and MOIC of 1.6x. It is the oldest vessel in […]
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25 Mar 2022 2 min read
Aquila European Renewables Income acquires 100MW solar project in Andalucía
Aquila European Renewables Income (AERS) has announced that it has entered into an agreement to acquire 100% of a 100 MWp solar PV portfolio, otherwise referred to as the Greco portfolio, which is currently under construction in Andalucía, southern Spain. Upon Project completion, Greco will increase AERS’s total portfolio generation capacity by 30% to 432 […]
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25 Feb 2022 1 min read
Aquila European Renewables Income announces first revenue from The Rock
Aquila European Renewables Income (AERS) has announced that the first project revenue has been recorded from “The Rock”, which is expected to be one of the largest wind farms in Europe, with 72 turbines and a 400 MW capacity. The project is expected to provide 1.3 TWh renewable electricity annually, equivalent to approximately 412 kt […]
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22 Dec 2021 3 min read
QuotedData’s morning briefing 22 December 2021
In QuotedData’s morning briefing 22 December 2021: Syncona (SYNC) has reached an agreement to sell its portfolio company Gyroscope Therapeutics Holdings to Novartis, a leading global medicines company, for up to $1.5bn on a cash and debt free basis, with an upfront payment of $800m and up to $700m (£528 million) potentially due upon the […]
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22 Nov 2021 3 min read
QuotedData’s morning briefing 22 November 2021
In QuotedData’s morning briefing 22 November 2021: Aquila European Renewables Income (AERI) has achieved a four out of a five-star rating following its GRESB assessment, an investor-driven global ESG benchmark and reporting framework to help evaluate complex sustainability issues. With an overall GRESB Score of 84, the fund scores above the GRESB average of 77 […]
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16 Nov 2021 1 min read
Aquila European says Norwegian ‘Rock’ wind farm still going ahead
Aquila European says Norwegian ‘Rock’ wind farm still going ahead – On October 11 2021, the Norwegian supreme court ruled that two windfarms – Storheia and Roan – had violated the traditional reindeer herding rights of the local Sami people. The herders said that the operational wind farms were disturbing the reindeer and affecting their […]
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29 Sep 2021 2 min read
QuotedData’s morning briefing 29 September 2021
In QuotedData’s morning briefing 29 September 2021: Digital 9 Infrastructure (DGI9) has decided to increase the amount raised for its placing from £200m to £275m due to a significant oversubscription. A number of directors and members of the investment management team of DGI9 were among the biggest subscribers. 255,813,953 new ordinary shares will be issued […]
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16 Sep 2021 3 min read
QuotedData’s morning briefing 16 September 2021
In QuotedData’s morning briefing 16 September 2021: GCP Asset Backed Income says that on 15 September 2021 certain entities within what it terms “the Co-living Group” were placed into administration. We highlighted the fund’s problems with this loan on Monday. GCP Asset Backed Income, its co-lenders and an operator have formed a syndicate to fund […]
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10 Jun 2021 3 min read
QuotedData’s morning briefing 10 June 2021
In QuotedData’s morning briefing 10 June 2021: Octopus Renewables Infrastructure (ORIT) has announced a proposed issue of ordinary shares of 1 pence each, to raise gross proceeds of around £100m. The Issue will be by way of a placing, open offer, offer for subscription and intermediaries offer for a target issue of up to 96,551,724 ordinary shares […]
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20 Apr 2021 1 min read
Aquila European Renewables results reflect effect of falling power prices
Aquila European Renewables results reflect effect of falling power prices – Aquila European Renewables has published results covering the year ended 31 December 2020. Highlights are: The year end NAV was €316.9m or 99.96 cents per share down from 102.7 cents. This translates as a total return of 0.7%. The return to shareholders was 2.0% In line […]
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01 Apr 2021 1 min read
Aquila buys Portuguese solar plant
Aquila buys Portuguese solar plant – Aquila European Renewables Income Fund has entered into a sale and purchase agreement to acquire 50% of the equity in an unlevered (no debt) Portuguese solar operating asset, Ourique. Closing of the transaction is expected to occur in April 2021. Ourique is located in Alentejo, Portugal, and has an installed […]
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30 Dec 2020 1 min read
Aquila European Renewables Income seals first investment in Greece with 40 MW wind deal
Aquila European Renewables Income (AERI) announced that its fully owned subsidiary, Tesseract Holdings Limited, has reached an agreement (under a share sale and purchase agreement) to acquire 89% of Desfina, an operational wind farm in Greece for an undisclosed amount. Upon completion of the acquisitions of Albeniz (as announced on 23 December) and Desfina, AERI […]
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24 Dec 2020 2 min read
QuotedData’s morning briefing 24 December 2020
In QuotedData’s morning briefing 24 December 2020: Gresham House Energy Storage has conditionally agreed to acquire a c.30MW battery project located near Wester Dechmont, Livingston in West Lothian, Scotland. Byers Brae is a battery-only site with a c.30MW/30MW export/import capacity which is currently expected to be commissioned in the second quarter of 2021. The project is […]
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04 Dec 2020 1 min read
Aquila European Renewables Income acquires Albeinz solar PV project
Aquila European Renewables Income Fund (AERS) has announced that Tesseract Holdings Limited, its fully owned subsidiary, has entered into a share purchase agreement (“SPA”) to acquire 100% of a Spanish solar PV construction project (Albeniz), along with an interest in the shared substation. The acquisition is structured as an unlevered investment. The Company’s estimated total […]
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30 Oct 2020 2 min read
QuotedData’s morning briefing 30 October 2020
In QuotedData’s morning briefing 30 October 2020 – Augmentum Fintech (AUGM) successfully completed its placing and retail offer, with demand exceeding the issue size. Admission of the new shares to the LSE is expected on 3 November 2020. Tim Levene, CEO of AUGM’s manager, commented: “The success of this fundraise reflects the growing shift in the move […]
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17 Sep 2020 1 min read
Aquila European Renewables looking for cash
Aquila European Renewables looking for cash – Aquila European Renewables Income Fund has published a prospectus in support of an initial placing and offer for subscription and a subsequent placing programme. The company is also convening a meeting to ask shareholders’ permission to issue new shares on a non pre-emptive basis. The initial target is a fundraising […]
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12 May 2020 2 min read
QuotedData’s morning briefing 12 May 2020
In QuotedData’s morning briefing 12 May 2020: Gore Street Energy Storage says that construction work on its two 50MW battery projects in Northern Ireland has restarted (subject to social distancing measures). Construction is scheduled to be completed in December 2020, allowing sufficient time to complete necessary asset testing before the assets go online. the DS3 contracts […]
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28 Apr 2020 1 min read
Aquila sees opportunities for expansion
Aquila sees opportunities for expansion – In its first set of results, Aquila European Renewables Income reports an NAV of €158.9m, 4.8% higher than the NAV at IPO in June 2019. Two 0.75 cent dividends were announced, in line with forecasts. The company is targeting a dividend of 4.0 cents in relation to the year ending […]
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23 Mar 2020 1 min read
Aquila European Renewables Income to bolster investment into Danish wind assets
Aquila European Renewables Income (AERI) intends to increase its existing investment into Svindbaek Vindkraft HoldCo ApS (Svindbaek), by acquiring three additional wind turbines (Svindbaek II)for a total consideration of approx. EUR 13.2 million. AERI says that in doing so, this completes the acquisition of all wind turbines associated with the Svindbaek wind farm. You can read more […]
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05 Mar 2020 1 min read
QuotedData’s other news 5 March 2020
In QuotedData’s other news 5 March 2020 Sirius Real Estate has secured €50m funding through a Schuldschein loan offering a blended interest rate of 1.60%, with an average maturity of 3.7 years. Urban Logistics REIT has topped up the £130m it raised the other day with a further £6.1m from its open offer and offer for subscription. […]
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29 Jan 2020 1 min read
Renewable energy funds under attack from brokers
Renewable energy funds under attack from brokers – Shares in many renewable energy funds slumped yesterday as first Chris Brown of JPMorgan and then Matthew Hose of Jefferies said they were overvalued. Their analysis (which we can’t show you and you can’t get hold of unless you work for a large investment firm and pay […]
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12 Dec 2019 1 min read
Aquila buys second Danish wind farm
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 […]
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06 Aug 2019 1 min read
Aquila buys Finnish wind farm
Aquila buys Finnish wind farm – Aquila European Renewables Income Fund has announced the planned acquisition of its fourth investment since its IPO in May 2019. The company has secured the exclusive right to acquire Aalto Wind No 2 Ltd Oy, the holding entity for a Finnish wind farm, for later this year by entering into a […]
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12 Jul 2019 1 min read
Aquila buys Norwegian wind farm
Aquila buys Norwegian wind farm – Aquila European Renewables Income Fund has announced the acquisition of its third investment, a 25.9% stake in Midfjellet Vindkraft AS, one of Norway’s largest operating wind farms. The Midtfjellet wind farm was built in three phases. Phases I and II comprise 44 N100 and N90 wind turbines (2.5 MW each) […]
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08 Jul 2019 1 min read
QuotedData’s other news 8 July 2019
In QuotedData’s other news 8 July 2019 Syncona (SYNC), a healthcare company focused on founding, building and funding global leaders in life science, has noted the announcement that its portfolio company, Freeline Therapeutics, has presented 52-week data from the first cohort of two patients in the ongoing B-AMAZE FLT180a Phase 1/2 trial in Haemophilia B at […]
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2 min read
Aquila European Renewables Income makes first acquisitions
Aquila European Renewables Income makes first acquisitions – Following its launch in May (raising €154.3m), Aquila European Renewables Income (AERI) has closed on its first project acquisitions. The company has this morning announced it has bought a hydro portfolio in Portugal and a wind farm in Denmark for a combined value 26.4% of the IPO […]
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22 Oct 2024 1 min read
Shuttered infrastructure trusts struggle in buyers’ market
by Val Cipriani, Investors Chronicle, October 21, 2024: Packing up the house always takes longer than you think. For investment trusts that have started the winding-up process, clearing the portfolio can be long and complicated, especially when illiquid assets need to be offloaded. Earlier this month, beleaguered infrastructure trust Digital 9 Infrastructure (DGI9), which is […]
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17 Sep 2024 1 min read
Four investment trusts closed last week. How many more will go?
Last week, four separate investment trusts handed in their notice, announcing they would be shuttering.. The number of investment trusts has fallen to its lowest level in years for a number of reasons, including high discounts, pressure on small trusts, and ongoing issues around cost disclosure.. With a total of ten mergers announced so far […]
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16 Sep 2024 1 min read
Investment trust insider on a shrinking sector
Investment trust insider on a shrinking sector – James Carthew: We might regret what’s lost in the trust bloodbath Four more investment companies – Aquila European Renewables, Ecofin US Renewables, Gulf Investment Fund and Keystone Positive Change – are heading for the exit. The bloodbath in the investment companies sector seems to be getting worse. […]
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30 Apr 2024 1 min read
Income investment trusts yielding above 4% and beating inflation
by Kyle Caldwell from interactive investor, 30th April 2024: For income-seeking investors, the ideal scenario is to find a fund with a high yield that delivers inflation-beating dividend growth and produces positive total returns (capital growth and income returns combined). However, ticking all three boxes is hard to consistently achieve, which is reflected in research […]
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08 Jan 2024 1 min read
Investment trust insider on the deal flurry at the end of 2023
Investment trust insider on the deal flurry at the end of 2023 – James Carthew: Deals flurry shows trust recovery has just begun Merger talks and proposals to liberate capital for share buybacks and investments are clear signs investment companies are pulling away from last year’s bear market. The so-called ‘Santa rally’ over November and […]
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04 Jan 2024 1 min read
How do last year’s investment trust mergers stack up?
by Dave Baxter, Investors’ Chronicle, January 3, 2024: Even the last working day before Christmas was far from short of investment trust news. The board of Octopus Renewables Infrastructure (ORIT) announced an intention to merge with its peer Aquila European Renewables (AERI) on the morning of 22 December… The plan has received a lukewarm response […]
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02 Jan 2024 1 min read
Octopus Renewables Infrastructure proposes merger with AERI
Christian Mayes, Portfolio Adviser, 2 JANUARY 2024: Octopus Renewables Infrastructure (ORIT) is exploring a possible merger with the £257m Aquila European Renewables trust (AERI). In a stock exchange announcement last month (22 December), the Octopus board proposed a combination which would create a £1.6bn renewable energy portfolio… In a separate stock exchange announcement, AERI’s board […]
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23 Dec 2023 1 min read
Octopus goes public with £745m merger bid for smaller rival
Patrick Hosking, Financial Editor, The Times, Saturday December 23 2023: A London-listed specialist in wind and solar farms has sparked a storm in the renewable energy sector with a hostile £745 million bid for a smaller rival. Octopus Renewables Infrastructure Trust disclosed that earlier private approaches to Aquila European Renewables had been rejected three times […]
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22 Dec 2023 1 min read
Octopus Renewables trust makes bid for Aquila European Renewables
James Baxter-Derrington, Investment Week, 22 December 2023: Octopus Renewables investment trust (ORIT) has made several attempts to engage with Aquila European Renewables (AERI) over 2023, in a bid to merge the two vehicles. According to a regulatory filing this morning (22 December), the £506m market cap ORIT has “sought on several occasions” during 2023 to […]
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1 min read
Octopus hopes to swell assets to £1bn with Aquila acquisition
Kathleen Gallagher, Citywire Investment Trust Insider, 22 Dec 2023: Octopus Renewables Infrastructure (ORIT) is determined to bring its net asset value to £1bn through a merger with Aquila European Renewable (AERI) but the board of the latter appears to need some convincing. ORIT, which has a £604m portfolio, said there is ‘compelling logic’ to create […]
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19 Dec 2023 1 min read
INTO THE HEADWIND
James Carthew in The Investment Trusts Handbook 2024: James Carthew reviews a tough year for the alternative asset trusts In the years following the global financial crisis, the investment companies industry boomed as investors in search of income poured money into alternative assets. Not everything worked. Aircraft leasing and reinsurance funds proved to be notable […]
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13 Nov 2023 2 min read
Why it’s a good time to invest in infrastructure
David Brenchley, The Times, Saturday November 11 2023: Infrastructure is all around us. From hospitals, schools and roads to the wind and solar farms that are used to power our lives. This omnipresence and the long-term need to build more of these assets have made infrastructure investment trusts popular. These trusts pool investors’ cash to […]
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22 Sep 2023 1 min read
What investment trust boards are doing to address wide discounts
James Crux, Shares Magazine, 21 September 2023: According to data from the AIC, the average investment trust discount to net asset value has widened from 12.2% at the end of 2022 to 14.5% as of 8 September 2023, while sector averages have generally widened. The exception is private equity, which narrowed from 25.1% to 4.5%, […]
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02 Aug 2023 1 min read
Eight investment trusts that could be takeover targets
by Sam Benstead from interactive investor, 2nd August 2023: Wide investment trust discounts are making them appealing takeover targets, with rumoured or confirmed deals likely to lead to sudden share price jumps… Discounts have widened due to negative sentiment about the economy, and therefore private company valuations, but also due to the impact of higher […]
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07 Jun 2023 1 min read
Renewable energy investment trust faces continuation vote
by Sam Benstead from interactive investor, 7th June 2023: The London market’s only Europe-focused renewable energy investment trust faces the risk of being wound up, with investors set to vote on its continuation on 14 June., which was launched in summer 2019, owns solar, hydro and wind renewable energy assets across Europe, with a particular […]
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05 Jun 2023 1 min read
Investment trust insider on Aquila European Renewables
Investment trust insider on Aquila European Renewables – James Carthew: Don’t wind down Aquila European Renewables I have been doing some work with Aquila European Renewables (AERI) recently. Like every other renewable energy investment company, AERI trades at a discount, with the shares currently around 12% below net asset value (NAV). However, AERI has been […]
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03 May 2023 1 min read
Alternatives de-rating throws up opportunities
James Carthew for Investment Week, 3 May 2023: Over the past 12 months or so, the disconnect between the net asset values of a wide range of investment companies and their share prices has widened considerably. The problem seems particularly acute in the area of alternative assets, which includes private equity, property, infrastructure and renewable […]
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20 Oct 2022 1 min read
When will renewable energy investment trust prices recover?
By Val Cipriani, Investors’ Chronicle, October 19, 2022: While equities and bonds have taken a battering, infrastructure has become an increasingly popular asset class in the past year, with a reputation for helping investors’ fortunes while traditional strategies were busy plummeting. Renewable energy in particular looked attractive in an environment where energy can be sold […]
