LONDON, May 31 (Reuters) - * Aquila European Renewables Income Fund said on Friday it had raised around 154.3 million euros ($171 million) in its initial public offering on the London Stock Exchange. * The funds will be invested in renewable energy technologies, including wind, solar and hydropower in continental Europe and the Republic of Ireland. * The fund said earlier this month it was seeking to raise 300 million euros. * “We are extremely pleased given the challenging political and economic environment to have raised nearly 155 million euros at launch, from high quality institutional investors,” said Ian Nolan, chair of the fund. * The fund is owned by Hamburg-based Aquila Capital which has around 8.2 billion euros of assets under management. ($1 = 0.8906 euros) (Reporting by Nina Chestney; Editing by Susan Fenton)
Aquila Capital’s European Renewables Income Fund has raised €154m ($171m) from its Ireland IPO. The figure was around half what the fund had previously indicated it wanted to raise, but chair Ian Nolan said the firm was “extremely pleased” considering the “challenging political and economic environment”. The fund will invest in renewable energy projects including wind, solar and hydro in Europe and London.