Eolus announces the sale of 47 MW wind power to KGAL

Hässleholm, SWEDEN

Hässleholm, Sweden, 2017-12-22 08:30 CET (GLOBE NEWSWIRE) --

Eolus has signed an agreement with KGAL, a German asset- and investment manager, regarding the sale of two wind farms in southern Sweden with an installed capacity of 46.8 MW. The preliminary purchase price for the wind farms amounts to a total sum of EUR 57.7 million.

The transaction is regarding wind farms Sötterfällan with an installed capacity of 36 MW and Anneberg with an installed capacity of 10.8 MW. Wind farm Sötterfällan, located in Jönköping municipality, is expected to be delivered turnkey in the summer of 2019. Wind farm Anneberg, located in Tidaholm municipality, is expected to be delivered turnkey in December 2018.

-We are very happy to once again be able to announce an agreement with KGAL regarding investments in Swedish wind power. It shows the mutual trust that has been created through the agreement made between our companies last year and highlights the strong offers Eolus has on the Swedish market says Eolus CEO Per Witalisson.

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

-With this agreement KGAL expands its portfolio of Swedish wind power and we will do our utmost to meet the expectations that follows with managing their investments says Eolus deputy CEO and COO Marcus Landelin.

-This second wind investment with Eolus underpins KGAL’s strategy to build up and develop trustful partnerships with experienced and reliable partners that provide competitive and sustainable renewable energy assets for the benefit of our investors – We are happy to having further expanded our market activities in Sweden stated Matej Lednicky, Head of Transaction Management Infrastructure at KGAL.

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.

About KGAL:
KGAL Group is a leading, independent asset and investment manager with an investment volume of €21.5 billion, across 87,000 investors. The Group, founded in 1968, operates across Europe and has its registered office in Grünwald near Munich. It focuses on long-term capital investments for institutional investors in the property, aircraft and infrastructure asset classes. 335 employees contribute to achieving earnings that are stable in the long term, taking into account aspects of revenue and risk. (Published December 31, 2016).

For further information contact:
Per Witalisson, CEO, +46 10 199 88 02
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 22, 2017, 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 more than 500 wind turbines of the approximately 3 400 wind turbines operating in Sweden. The Eolus Group currently owns an installed capacity of 18 MW and a yearly electricity production of 40 GWh. Eolus operates approximately 350 MW for customers and the company itself.

Eolus Vind AB has approximately 6 600 shareholders. Eolus shares are listed at Nasdaq Stockholm.

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


171222 Press release Eolus announces the sale of 47 MW wind power to KGAL.pdf