- Investment company Aquila European Renewables Income Fund said its fully owned subsidiary Tesseract had entered into an agreement to acquire Albeniz, its first solar construction project in Spain.

The company's estimated total capital commitment for Albeniz, a 50 MWp project located in the South of Spain, represented about 35% of its existing cash on hand at the fund level, the company said.

Construction was expected to commence shortly and the company anticipated that the project will reach completion at the end of 2021.

Albeniz was expected to have an operating life of 30 years.

At 9:44am: [LON:AERS] share price was 0p at 95p

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