UK capitalist obtains Spanish PV portfolio

• Tesseract Holdings purchase of Greco makes up two assets completing 100MWp

Aquila European Renewables Income Fund (AERIF), has gotten Spanish solar PV building project Greco via its subsidiary Tesseract Holdings.

Greco's 100MWp portfolio includes 2 assets which are located in Andalucía, in the south of Spain, which gain from attractive solar irradiation returns.

Building is currently underway as well as conclusion is contingent upon the project obtaining all of the requisite permits and also authorisations from neighborhood authorities (incl. the grid driver) as well as is expected by late 2022.

Payment of the deferred consideration amount of EUR90m plus any type of possible earn-out will be due at or after project conclusion.