FRANKFURT—Aquila Capital on Sept. 7 unveiled a spending push of more than 2 billion euros (US$1.98 billion) to fund solar and wind projects in Spain and Portugal, in what marks a major expansion at one of Europe’s largest private renewables investors.
The funding covers 50 projects of Aquila Clean Energy EMEA, Aquila’s European cleantech arm, mostly photovoltaics and onshore wind with a total generation capacity of 2.6 gigawatts (GW), enough to power 1.4 million households a year.
More than half of the investment will come from Aquila, while the European Investment Bank (EIB) will provide a 400 million euro credit line, in what EIB Vice President Ricardo Mourinho Felix said was a “landmark transaction.”
A group of banks, including NatWest, German state lender KfW, Santander, BNP Paribas, ING, Intesa SanPaolo, and Banco Sabadell will account for the remaining 600 million euros.
“This transaction constitutes the largest financing in the history of Aquila Clean Energy and Aquila Capital,” Susanne Wermter, CEO of Aquila Clean Energy EMEA, said.
Aquila Capital manages 14 billion euros of assets worldwide and has a clean tech portfolio of more than 8.2 GW that, apart from wind and solar, also includes hydroelectric power and battery storage.
Recommended Reading
CEO: Continental Adds Midland Basin Acreage, Explores Woodford, Barnett
2024-04-11 - Continental Resources is adding leases in Midland and Ector counties, Texas, as the private E&P hunts for drilling locations to explore. Continental is also testing deeper Barnett and Woodford intervals across its Permian footprint, CEO Doug Lawler said in an exclusive interview.
For Sale, Again: Oily Northern Midland’s HighPeak Energy
2024-03-08 - The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.
Exxon Ups Mammoth Offshore Guyana Production by Another 100,000 bbl/d
2024-04-15 - Exxon Mobil, which took a final investment decision on its Whiptail development on April 12, now estimates its six offshore Guyana projects will average gross production of 1.3 MMbbl/d by 2027.
Comstock Continues Wildcatting, Drops Two Legacy Haynesville Rigs
2024-02-15 - The operator is dropping two of five rigs in its legacy East Texas and northwestern Louisiana play and continuing two north of Houston.
Evolution Petroleum Sees Progress on SCOOP/STACK, Chaveroo Operations
2024-03-11 - Evolution expects to participate in future development blocks, holding in aggregate over 70 additional horizontal well locations.