Aquila European Renewables (AERI) has confirmed the completion of its previously announced Sagres disposal (a hydropower asset in Portugal), with the company receiving €14.7m in sale proceeds. The deal marks a key step in AERI’s managed wind-down process, following the board’s strategic review and shareholder backing for a staged realisation of assets.

Looking ahead, the company expects to divest the remainder of its portfolio through three separate sale processes:

• A substantial, though non-majority, portfolio of assets is under exclusivity with a preferred bidder. Due diligence and transaction negotiations are progressing, with a further update expected in July 2025.
• A second, regionally focused sales process is underway for assets located in a single geography.
• AERI is also preparing an individual sale process for its Finnish wind asset, Olhava. However, recent changes in Finland’s balancing market – linked to its participation in the European aFRR (automatic Frequency Restoration Reserve) platform PICASSO – have prompted the company to evaluate the optimal timing and approach for this sale.

The board says it remains committed to delivering value through a disciplined realisation strategy and will continue to update shareholders as developments occur.