Aquila launches 50MW Spanish PV

• Albeniz solar farm benefits from a PPA with Statkraft

Aquila European Renewables Income Fund (AERIF) has actually placed its 50MW Albeniz solar farm in Spain into procedure.

AERIF obtained a 100% rate of interest in the Albeniz project, in southerly Spain, in December 2020.

The possession is expected to have an operating life of 30 years after commissioning.

Albeniz gain from power purchase agreements covering 80% of P50 production with Statkraft over a term of about 5 years.

Albeniz represents the firm's largest single investment, corresponding to around 14.6% of portfolio fair value since 31 March 2022.

Last project commissioning rests upon the issuance of a Provisional Acceptance Certificate and also authorizations from the grid operator and also authorities, which are anticipated to be accomplished by the third quarter of 2022.

Meanwhile. considering that ending up construction of The Rock wind farm in December 2021, works have been concentrated on the energisation of the turbines, which has been postponed as a result of adverse climate condition as well as minimal access to the site.

Currently 65 out of 72 turbines are energised and also have actually started generating electricity.

The continuing to be turbines are anticipated to be fully energised quickly.

Takeover was expected to take place throughout the 2nd quarter of 2022 yet due to unfavourable climate condition experienced also throughout the summer period, Aquila Capital Investment expects requisition to happen during the 3rd quarter of 2022.