August 6, 2019 / 9:54 AM / 14 days ago

Aquila Renewables fund to buy Finnish wind farm

LONDON, Aug 6 (Reuters) - Aquila European Renewables Income Fund plans to acquire a Finnish wind farm and its planned extension, it said on Tuesday.

The fund has agreed to buy Aalto Wind 2 Ltd Oy, which holds the li Olhava wind farm and its extension, around 50 km north of the city of Oulu.

The final transaction will amount to around 15.5% of the 154 million euros ($173 million) in proceeds raised from Aquila’s initial public offering in May, the fund said.

The wind parks qualifies for the Finnish feed-in tariff support scheme.

$1 = 0.8926 euros Reporting by Nina Chestney; editing by Jason Neely

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