Besides Sweden where Eolus so far has established more than 430 wind turbines Eolus also have business activities in Norway, Estonia and Latvia. The expansion to Finland which is a less mature market than the Swedish market is partly a result of the credible support system for wind power that now exists in the country.
Eolus Vind AB’s expansion outside Sweden continues with startup of the Finish subsidiary Eolus OY. As a first move in the expansion to the Finnish market Eolus OY has acquired two wind power projects under development from the project developer Auria Wind OY.
-Through its feed in tariffs Finland has gotten a stable framework for increased renewable energy production from wind power. This attracts investors seeking long-term investments with stable cash flows. For us as one of the leading and most experienced project developers in Sweden and the Nordic countries, it is a natural step to follow our customers says Per Witalisson, CEO of Eolus.
The two wind power projects acquired by Eolus OY are in the application process and are located in southwestern Finland. Together the projects Loimaa-Alastaro and Huittinen holds sites for 15 wind turbines with a total capacity of approximately 50 MW.
-This acquisition gives us a good start in an interesting market where Eolus long experience will provide the market with attractive wind farms says Per Witalisson.
Eolus Vind AB is one of the leading wind power developers in Sweden. Eolus is active in the entire value chain from development of green field projects to establishment and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries to both local and international investors. Founded in 1990, Eolus has established over 430 wind turbines of the approximately 2 700 wind turbines operating in Sweden. The Eolus Group currently owns and operates an installed capacity of 62 MW and a yearly electricity production of 152 GWh. Eolus Vind AB has approximately 3 000 shareholders. Eolus shares are listed at NASDAQ OMX First North in Stockholm with Erik Penser Bankaktiebolag as certified adviser.