Eolus announces the sale of seven wind turbines to KGAL

Hässleholm, SWEDEN

Hässleholm, Sweden, 2016-12-23 08:30 CET (GLOBE NEWSWIRE) --

Eolus has signed an agreement with German asset- and investment manager KGAL regarding the sale of two wind farms totaling 15.4 MW. The purchase price amounts to EUR 22 million.

The transaction is regarding seven Vestas V100 2.2 MW located in two wind farms in southern Sweden. Four turbines will be constructed in wind farm Gunillaberg in Jönköping municipality and three turbines will be constructed in wind farm Lunna in Askersund municipality. Delivery of the turnkey facilities is expected in August of 2017.

As part of the agreement Eolus has been entrusted to provide technical, operational and administrative services for both wind farms in order to maximize outcome and production from the facilities.

-I am very happy that KGAL has chosen Eolus as its partner for this investment in the Swedish wind energy market. The transaction once again shows that Eolus can offer attractive investments opportunities as well as competitive asset management of wind power facilities says Eolus CEO Per Witalisson.

-The facilities will give KGAL:s institutional investors long-term stable return whilst also benefiting society adding clean electricity production and strengthening the local economy says Eolus deputy CEO Marcus Landelin.

The transaction, which includes all shares in the two companies owning the respective wind farm, is subject to fulfillment of a number of conditions before closing.

For further information contact:
Per Witalisson, CEO, +46 10 199 88 02
Marcus Landelin, deputy CEO, +46 10 199 88 16
Johan Hammarqvist, head of communications, +46 10 199 88 10

The information in this press release is disclosed pursuant to the EU Market Abuse Regulation. The information was released for public disclosure through the agency of head of communication Johan Hammarqvist on December 23rd 2016, at 8.30 AM CET.

About Eolus:
Eolus Vind AB is one of the leading wind power developers in Sweden. 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 to both local and international investors. Founded in 1990, Eolus has constructed nearly 500 wind turbines of the approximately 3 300 wind turbines operating in Sweden. The Eolus Group currently owns an installed capacity of 38 MW and a yearly electricity production of 89 GWh. Eolus operates approximately 300 MW for customers and the company itself.

Eolus Vind AB has approximately 5 000 shareholders. Eolus shares are listed at Nasdaq Stockholm.

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


161223 Pressrelease Eolus announces the sale of seven wind turbines to KGAL.pdf