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Eolus acquires seven wind power projects in early development

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Hässleholm, Sweden, July 10, 2020

Eolus has signed an agreement to acquire seven wind power projects in early development phase from Vindkraft Värmland, a subsidiary of Modern Energy. The projects located in SE3 and SE4 are estimated to in total appr 450 MW.

Six of the acquired projects are located in SE3 and one is in SE4. The final purchase price is dependent upon how the projects develops and is covered by a profit sharing with the seller when the projects a realized.

Eolus has also signed an agreement with the option of acquiring three projects in SE3 in early development phase comprising of up to an additional volume of 280 MW.

-We are seeing a large interest for projects within SE3 and SE4. We are pleased to add these projects in early development phase to Eolus’ Swedish portfolio says Gustav Grumert, Head of origination at Eolus.

The acquisition of these wind power projects is the first within the new Origination function established in January 2020. The objective of the Origination function is to strengthen the early project development by identifying strategic collaborations with landowners, acquiring projects under development, evaluate new geographical markets and asses earlier Eolus projects that have been downgraded. 

For further information contact:

Per Witalisson, CEO, +46 70-265 16 15
Gustav Grumert, Head of Origination, +46 70-600 97 78
Johan Hammarqvist, Head of Communications, +46 720-50 59 11

About Eolus:
Eolus Vind AB is one of the leading wind power developers in the Nordics. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries as well as the United States to both local and international investors. Founded in 1990, Eolus has constructed 615 wind turbines with a capacity of over 1 200 MW. Eolus has signed contracts for about 1 300 MW of asset management services of which some 745 MW is in operation.

Eolus Vind AB has about 26 000 shareholders. Eolus shares are listed at Nasdaq Stockholm.

For more information about Eolus, please visit www.eolusvind.com

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