Aquila European Renewables, a Europe-focused green energy group, took on a secondary listing on the Dublin stock market on Monday.
The company also has about €30 million of cash on its balance sheet, even after spending tens of millions of euros this year buying back its own stock to take advantage of how its shares are trading at a discount to their intrinsic value. Its net asset value per share was 104.1 cents at the end of June, compared to a bid price of 80c being quoted in Dublin on Monday.
AER, which floated in London in May 2019, had a wind, solar and hydro power portfolio with a capacity of 463.8 megawatts across Scandinavia, Greece, Spain and Portugal at the end of June, according to its latest financial report. It stated at the time of the initial public offering that it would target projects in the Republic.
Mr Meisinger said it is important that AER’s portfolio remains diversified geographically across Europe.
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