1 August 2024
Aquila European Renewables
plc
Net Asset Value and Factsheet - 30 June
2024
Aquila European Renewables plc ("the
Company"), a Euro income fund, announces its unaudited net asset
value ("NAV") as of 30 June 2024, on a cum-income basis, was EUR
335,508,746 or 88.73 cents per Ordinary
Share. This represents a NAV total return, including dividends
during the period of -3.6% per Ordinary Share over the
quarter.
Key drivers of the NAV movement in
Q2 2024 were:
·
A sharp decrease in Guarantees of Origin (GoOs) as
a result of lower demand due to lower industrial activity in the
short term. Long-term GoO price forecasts have also declined
reflecting expectations of lower demand as European countries
approach a fully decarbonised grid (-5.8 cents per Ordinary
Share);
·
In Iberia, short to medium term power price
forecasts have increased in response to higher commodity prices.
Nordic power price forecasts have also increased in the short-term,
whilst longer-term power price forecasts have slightly declined
because of the higher build-out of renewables and decreasing power
exports (+2.2 cents per Ordinary Share).
A sensitivity of NAV against
discount rates, inflation and power prices can be found
below.
|
Assumption
|
Impact on
NAV per
Ordinary Share
|
|
Discount rate
|
+0.5%
|
-5
cents
|
|
-0.5%
|
+ 5
cents
|
|
Inflation
|
+0.5%
|
+4
cents
|
|
-0.5%
|
-4
cents
|
|
Power price
|
+10.0%
|
+11
cents
|
|
-10.0%
|
-11
cents
|
Further details will shortly be
available in the quarterly factsheet on the Company's website
at: https://www.aquila-european-renewables.com.
For further details
contact:
Media contacts
Edelman Smithfield
Ged Brumby 07540-412301
Hamza Ali 07976 308914
Corporate Broker
Deutsche Numis Securities 020 7260 1000
Tod Davis
David Benda
George Shiel
NOTES
The objective of Aquila European
Renewables plc is to provide investors with an attractive
long-term, income-based return in EUR through a diversified
portfolio of wind, solar PV and hydropower investments across
continental Europe and Ireland. Through the diversification of
generation technologies, the seasonal production patterns of these
asset types complement each other to balance the cash flow, while
the geographic diversification serves to reduce exposure to one
single energy market. In addition, a balance is maintained between
government supported revenues, fixed price power purchase
agreements and market power price risk.
www.aquila-european-renewables.com
LEI: 213800UKH1TZIC9ZRP41