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Eolus offloads to Aquila 232 MW of Swedish wind projects

Power News - Published on Fri, 29 Dec 2017

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Renewables Now reported that Swedish wind project developer Eolus Vind AB has agreed to sell the rights for 232 MW of wind power projects in Sweden to German investment firm Aquila Capital. The preliminary purchase price totals EUR 264 million (USD 313.8 million). The deal includes the sale of all shares in the project companies holding the rights to the Kraektorpet and Nylandsbergen wind farms. The facilities will be constructed by Eolus and are expected to be commissioned in 2019.

The partners have agreed that Aquila Capital will provide construction financing for the 163.4-MW Kraektorpet project, which it will buy at a preliminary price of EUR 182 million. The purchase price of EUR 82 million for the 68.4-MW Nylandsbergen project will be paid in full upon completion and takeover.

Eolus will provide technical, operational and administrative services for the plants for seven years following commissioning.

The Swedish firm expects to book revenues from the sale of the Kraektorpet project in the second quarter of its 2017/18 fiscal year. Revenues from the Nylandsbergen sale and the construction of the two plants are expected to be recorded in the second half of 2019 when they are up and ready to run, Eolus said.

Last week, Eolus said it will sell two wind projects in Sweden with a combined capacity 46.8 MW to German asset and investment manager KGAL.

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Posted By : Nanda Koijam on Fri, 29 Dec 2017
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