London-based Aquila European Renewables Income Fund (AERIF) has invested approximately €13.2 million (£12.2m) in a Danish wind farm.
The new finance will see Svindbaek Vindkraft HoldCo ApS install 9.6MW of new capacity and could help reduce 6,562 tonnes of carbon dioxide emissions annually.
The project benefits from a Danish premium tariff provided for a fixed volume of production.
Christine Brockwell, Head of Partnerships and Portfolio Management at Aquila Capital, said: “The first quarter of 2020 has been very positive for AERIF. We successfully completed our €40 million (£36.8m) equity issuance and within a couple of weeks were able to deploy €13.2 million (£12.1m) into the high quality Svindbaek II project.
“The acquisition of this asset underpins the company’s ability to generate a strong dividend yield and reinforces our investment proposition.”