July 14, 2014 / 9:38 AM / 3 years ago

APG, Aquila Capital to invest up to 500 mln euros in Europe hydropower

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LONDON, July 14 (Reuters) - Dutch pension fund asset manager APG Asset Management and alternative investments manager Aquila Capital plan to invest up to 500 million euros in European hydropower plants, they said in a statement on Monday.

The tie-up will see them both invest in operational plants and develop new projects across Europe.

APG will invest 250 million euros but with the use of debt financing, the total enterprise value of the assets could reach 500 million euros. Aquila will manage and operate the assets and provide portfolio management services to the partnership. (Reporting by Simon Jessop; editing by Olivia Hardy)

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