AERIF enters deal to acquire 100 MW solar portfolio in Andalusia

Aquila European Renewables Income Fund plc (AERIF) has entered into an agreement to acquire two solar photovoltaic projects with a combined capacity of 100 MW located in the Andalusia region of Spain. 

The 'Greco' solar portfolio is expected to be operational before the end of 2022. AERIF will pay about EUR90 million (US$98.85 million) upon the completion of the project. 

The project can generate up to 184 GWh of energy per year once commissioned. Aquila Capital Investmentgesellschaft mbH, AERIF’s investment advisor will secure a power purchase agreement (PPA) for the electricity produced from the project.