LONDON: Aquila European Renewables plc (AERI), a London-listed investment company advised by Aquila Capital Investmentgesellschaft mbH, has announced the sale of its 18% stake in the Portuguese hydropower asset Sagres. The sale comes as part of the company’s ongoing managed wind-down process approved by shareholders in September 2024.
AERI’s board revealed on Wednesday that it entered into a sale and purchase agreement with other Sagres shareholders, comprised of funds managed and advised by Aquila Capital.
The sale, valued at approximately €16.5 million, aligns with the company’s net asset valuation as of December 2024. Completion of the transaction is expected by June 2025, pending regulatory approvals.
The board praised the agreement for delivering both valuation parity and prompt execution, viewing it as a favorable outcome for AERI shareholders. The company is continuing efforts to sell its remaining portfolio while navigating uncertain renewable market conditions.
Further updates on AERI’s divestment progress will follow as the managed wind-down policy advances.