QuotedData Retail - Aquila European Renewables Income Fund (AERS) Aquila European Renewables – Sunny days are here again

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QuotedData Retail

James Carthew ...

Matthew Read

Aquila European Renewables – Sunny days are here again

Aquila European Renewables (AERI) is about four years old. Since launch, it has built up a 464MW portfolio of operational solar, wind and hydropower projects, spread across six European power markets. It has also generated returns in line with targets (7.2% per annum against a target of 6.0–7.5%). For 2023, AERI is targeting a dividend of 5.51 cents per share, 5% ahead of 2022. The board reckons that this will be covered 1.8x after existing project debt repayments.

Like all other renewable energy funds currently, AERI trades on a discount. However, its board has been proactive in addressing this through share buybacks. On 14 June, shareholders voted in favour of the continuation of the company at this year’s AGM. Mindful of the discount, the board has brought forward the next vote scheduled for 2027 – to 2024.

AERI has an established cash-generative portfolio, the prospect of adding further cover to the dividend, and a pipeline of new projects.

15/06/2023 1 EN

Underlying

Aquila European Renewables Income Fund

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GB00BK6RLF66 London Stock Exchange United Kingdom

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QuotedData Retail

QuotedData you with provides access to research on Investment Companies, Investment Trusts and Mining companies. Our aim is to provide you all the information you might need to make your own investment decisions. We cannot offer you advice on your investments.

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Analysts

James Carthew

Matthew Read

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Aquila European Renewables – Sunny days are here again

Quoted UK Infrastructure and Renewable Energy ‒ A year of trials and tribulations

Aquila European Renewables – Powering through

Aquila European Renewables – Powering through

GCP Infrastructure – Consolidate and capitalise

Pantheon Infrastructure – Powering up

Seraphim Space Investment Trust – Entering orbit

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