Aquila European Renewables, a London-listed investment company, has entered into a sale and purchase agreement to divest its 18% interest in the Sagres hydropower asset in Portugal. The transaction, which is valued at approximately €16.5 million, is subject to customary regulatory approvals and is expected to close by June 2025.
The sale is part of Aquila European Renewables’ broader strategy to wind down its operations. In October 2024, the company announced that following a shareholder resolution in September 2024, it would pursue a managed wind-down process, appointing Rothschild & Co as its financial advisor to facilitate the sale of its portfolio.
The cash consideration of €16.5 million reflects the prevailing valuation of the Sagres asset as recorded in the company’s net asset value as of December 31, 2024.
Aquila European Renewables’ board, in collaboration with its advisers, continues to work on the divestment of the company’s remaining assets in line with its wind-down investment policy.
“We remain focused on executing our managed wind-down strategy and will continue to pursue the orderly divestment of our portfolio,” the board of Aquila European Renewables said in a statement.
