The Aquila European Renewables Income Fund has saught a listing on the London Stock Exchange as an investment company, after raising some €154.3m thorugh an initial public offering, with an eye to trading on the Main Market beginning on 5 June.
Aquila Capital, based in Hamburg and acting as the company's investment adviser, is set to invest the money raised in a portfolio of renewable energy technologies, covering wind, solar and hydro power across the Continent and Irelend.
Ian Nolan, chair of the fund, said: "The Aquila European Renewables Income Fund offers investors exposure to a portfolio of assets that investors, typically, have had limited opportunities to access. We are extremely pleased given the challenging political and economic environment to have raised nearly €155m at launch, from high quality institutional investors. It is one of the most successful share placings by a listed fund this year and the first continental European manager in the segment. With a groundswell of interest in the asset class and a strong pipeline of opportunities, we look forward to playing a key role in developing the rapidly expanding renewable energy sector in Europe on behalf of our investors, stakeholders and society at large."