Eolus has signed an agreement with KGAL regarding the sale of the wind farm Bäckhammar in Sweden comprising 31 wind turbines with an installed capacity of 130 MW. The preliminary purchase price for the wind farm amounts to EUR 131 million. In a corresponding move Eolus has placed an order for 31 wind turbines with Vestas.
The transaction covers all the shares in the project company that hold the project rights for the wind farm located in the municipalities of Kristinehamn and Degerfors. Eolus will construct the wind farm and KGAL will provide construction financing. The preliminary purchase price amounts to EUR131 million.
The wind farm will comprise 22 Vestas V136 4.2 MW wind turbines and 9 Vestas V150 4.2 MW wind turbines for a total installed capacity of 130.2 MW. Bäckhammar wind farm is expected to be delivered turn key to KGAL ESPF 4, a Fund advised by KGAL, and their co-investor Kempen Private Markets Fund in August 2020.
As part of the agreement Eolus has been entrusted to provide technical, operational and administrative services for the wind farm to maximize outcome and production from the facility.
-We look forward to providing KGAL with yet another project from Eolus high quality project portfolio. This is the fifth wind farm we have been entrusted to provide KGAL with. We are very pleased with the trust that KGAL once again puts in Eolus says Eolus CEO Per Witalisson.
-We greatly value the relationship that has been formed between our companies and we are proud to be able to deliver asset management services for this investment by KGAL says Eolus deputy CEO Marcus Landelin.
-We are delighted to have acquired another wind farm from our long-standing partner Eolus equipped with state of the art turbines from Vestas. The investment strengthens our footprint in the Scandinavian renewables market and levers the co-investment structure we have implemented says Managing Director of KGAL Investment Management Michael Ebner.
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 more than 540 wind turbines of the approximately 3 400 wind turbines operating in Sweden. Eolus operates more than 400 MW on behalf of customers.
Eolus Vind AB has about 8 200 shareholders. Eolus shares are listed at Nasdaq Stockholm.