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Eolus has completed the acquisition of YIT Energy Oy

Eolus has today, 12 December 2023, completed the acquisition of YIT Energy Oy, the renewable energy division of Finland’s largest development and construction company YIT. The transaction was announced 5 December 2023.

Eolus has acquired 100% of the shares in YIT Energy Oy, a wholly owned subsidiary of YIT, for a fixed purchase price of EUR 25 million. EUR 10 million were paid at closing and the remaining amount will be paid in instalments during 2024–2025. The transaction also includes a variable purchase price, which will be defined based on project sales and completed projects up until the end of 2032.

Total potential in the acquired portfolio amounts to 2.3 GW, of which 1.1 GW are mature projects that will qualify into Eolus project portfolio from the start. Approximately 900 MW are onshore wind projects and just over 200 MW are solar power projects. The remaining 1.2 GW are projects in earlier phases. The transaction also includes 16 employees who now join Eolus.

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