The European Hydropower Fund (EHF) of the Aquila Group has reached further capital commitments from Evangelical-Lutheran Church of Hanover and VERKA church pension fund

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Jul 25, 2019

Aquila Capital's European Hydropower Fund (EHF) reaches further capital commitments

  • Evangelical-Lutheran Church of Hanover and VERKA church pension fund invests 40 million euros
  • Final closing planned until the end of 2019
  • CO2 reduction of more than 1.8 million tons over the fund's duration

Hamburg, 17 July 2019 – The alternative investment specialist Aquila Group has announced further capital commitments for its European Hydropower Fund (EHF) after the end of the second quarter of 2019, which will increase the volume of the fund to 175 million euros. The additional capital of 40 million euros was raised from two institutional investors with a church background. With the newly raised equity, the fund will realize strategic acquisitions in Scandinavia and on the Iberian Peninsula.

“For us as investors with a church background and a long-term investment strategy combining ecological and social sustainability, hydropower is an ideal asset class,” stresses Armin Tänzer, Department Head at the Evangelical-Lutheran Church of Hanover (Evangelische Landeskirche Hannovers). Ewald Stephan, CEO of church pension fund VERKA VK Kirchliche Vorsorge VVaG, adds: “We share Aquila Group's conviction that today ESG criteria are bound to be part of any active asset management approach.”

“Hydropower as an asset class offers low operating costs and a positive CO2 footprint. In case of additional storage capacity, hydropower plants also enable investors to flexibly sell the produced energy depending on the most profitable time of day and year, translating into a yield premium. All in all, it is a sustainable investment with a long and proven track record,” comments Tor Syverud, Ph.D., Head Investment Management Hydropower at Aquila Group.

Since the fund’s launch, its assets have accumulated a reduction in CO2 emissions of roughly 300,000 tons. Over the fund’s entire duration, a reduction by more than 1.8 million tons of CO2 is expected.

The European Hydropower Fund is the only European investment fund exclusively focused on hydropower assets and will remain open to institutional investors until the end of 2019. The fund manages a broadly diversified portfolio of more than 125 operating small hydropower plants. Aquila Group has been active in various regions in the hydropower market both in the development and operation of hydro assets since 2008. Among other investments, Aquila Group has acquired Europe’s biggest independent operator of small hydropower plants, Småkraft AS, for its institutional clients.

Articles authored by Martin Signer

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