Aquila to fund European renewable push via €300m listing

Facebook
Twitter
LinkedIn
Reddit
Email
Proceeds raised at the London Stock Exchange will finance a pipeline outside of the UK (Credit: Flickr / Elias Gayles)

Germany's Aquila Capital is to fund a large-scale European renewable campaign via a flotation on the London Stock Exchange, setting its sights on non-UK projects.

The asset manager will support the purchase of at least 16 clean energy assets by listing a dedicated investment fund, with plans to raise €300 million (US$337 million) overall.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Scheduled to start trading on 5 June, the Aquila European Renewables Income Fund will invest equity and debt to buy solar PV, wind, hydro plants but also non-generation projects, including battery storage, distribution grids and transmission lines.

Teams led by Aquila senior investment manager Christine Brockwell will source deals from continental Europe and Ireland. A pipeline across Iberia and Scandinavia has already been identified, the firm said as it revealed its upcoming listing.

The fund will focus on already up-and-running, income-generating schemes. It will purchase assets from the broader Aquila group – nine such deals have been singled out – but also third parties, with external negotiations underway for seven other projects.

Investors backing the vehicle through the London exchange can expect a long-term net internal rate of returns around the 6-7.5% mark, according to Aquila. Project revenues, the firm explained, will come via PPAs – with individual offtakers taking up a maximum 25% per scheme – feed-in tariffs and others.

Aquila’s London IPO heralds a PV boost for a firm already owning 775MW of installed capacity across 39 plants, with €1.8 billion (US$2.02 billion) worth of deals recorded to date.

The firm entered the Iberian market via a 170MW Portuguese solar acquisition in 2017 and has since – thanks in part to a recent 700MW deal – boosted its renewable portfolio in the region past the 1GW mark.

The group’s appetite for Iberian assets was underscored once more by statements at the Large Scale Solar Europe conference, held in Lisbon this March. Speaking at a panel, Aquila director Andrew Wojtek described Spain and Portugal as “perfect” for subsidy-free solar assets.

2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

September 11, 2025
The PEARL Consortium has developed perovskite solar cells with carbon electrodes with a conversion efficiency of 21.6%.
September 11, 2025
The EBRD has launched a new programme to improve access to green financing and support energy investments such as renewable power projects.
September 10, 2025
A project claimed to be Germany’s largest agriPV plant has been commissioned in the north-east of the country.
September 9, 2025
Iberdrola has signed a 77MW power purchase agreement (PPA) with Italian grocery retail group Selex Gruppo Commerciale.
September 9, 2025
The average price of solar modules sold in Europe fell marginally between July and August, while buyers’ confidence remained steady.
September 8, 2025
France has awarded 971MW of ground-mount solar capacity, to 165 projects, in the eighth round of the PPE2 PV tender.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines