The 60MW Ourique PV project has been operational since December 2019 [Image: Antonio Garcia/Unsplash]
A subsidiary of London-listed Aquila European Renewables Income Fund called Tesseract Holdings has completed the acquisition of a 50% interest in the 60MW Ourique solar farm in Portugal.
Ourique is located in Alentejo and started operations in December 2019.
Its power price hedges cover 100% of the produced energy until March 2026, Aquila said.
The project is expected to save 17,035 tonnes of CO2 emissions a year.
The fund has has now deployed or committed all of its surplus capital that was available for investment activity, following completion of the deal.
Solar assets represent over 25% of the funds portfolio.