Aquila snaps up 170 MWp of Portuguese PV projects

German investment firm Aquila Capital said on Wednesday it has acquired over 170 MWp of ready-to-build solar projects in Portugal.

The deal was carried out on behalf of investors, while the name of the seller and value of the transaction were disclosed. The acquired projects are situated in central and southern Portugal, with construction slated to be completed by the end of 2018.

Hamburg-based Aquila has signed a power purchase agreement (PPA) for the output of the four plants with an unnamed local third party. "Even without state funding support, these projects are a highly attractive investment,” said Susanne Wermter, head of investment management energy & infrastructure EMEA at Aquila Capital.

The German investment firm noted that it has under management renewable energy assets with a transaction volume exceeding EUR 3 billion (USD 3.5bn) in 10 countries.

(EUR 1.0 = USD 1.183)

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