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Aquila renewables fund raises 40 mln euros via share placing

LONDON, March 6 (Reuters) -

* Aquila European Renewables Income Fund has raised 40 million euros ($45.3 million) for renewables investment through a shares placing, up from its target of 25 million euros, it said on Friday.

* "Reflecting strong demand the placing size was increased from the original target of 25 million euros to 40 million euros," the fund said, adding that it was still oversubscribed with demand from existing and new investors.

* The fund has identified a pipeline of possible projects with total capacity of about 875 megawatts (MW) to 2021 in onshore wind, solar photovoltaic (PV) and hydropower in six European countries. ($1 = 0.8818 euros) (Reporting by Nina Chestney Editing by David Goodman )