Aquila Energy Efficiency Trust PLC on Monday announced an increase in deployment and capital commitments for investments in Italy, Spain and UK.

The London-based energy investment company said it has increased capital commitments by £28.8 million, now totalling £48.5 million as of Monday. Income generating capital deployed has also increased by £6.1 million to a total of £21.8 million.

Aquila Energy’s investment advisor has increased origination capability to focus on repeat business with existing clients following an investment strategy review in April. ‘We are now beginning to see these efforts leading to increased deployment,’ the company said.

Aquila Energy has invested a further £8.3 million in residential energy efficiency in Italy, of which £3.9 million has been invested in small residential projects that qualify for the Italian superbonus incentive scheme, where homeowners are entitled to a tax credit for upgrading their homes to be energy efficient.

Further, the company has committed to three transactions in Spain. This includes an investment of £2.6 million in a solar plant located near Tarragona and a £9.4 million in a cluster of solar panels for industrial and commercial companies originated by Solarnub, a trading management platform for solar companies.

Aquila Energy has invested in combined heat and power projects in the UK with different energy service companies. One of these is a fifteen-year energy supply agreement with food producer, Vale of Mowbray, for its manufacturing facility.

‘The directors continue to believe that the political and global economic backdrop and markets for energy efficiency remain strong...the company is well positioned to invest in the sector and support the Sustainable Development Goal... to double the global rate of improvement in energy efficiency by 2030,’ the company said.

A further two origination specialists were added in April to increase the speed of origination and execution for new investments.

Shares in Aquila Energy Efficiency Trust were down 0.7% at 77.00 pence in London on Monday.

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