{"id":18899,"date":"2017-05-31T12:00:00","date_gmt":"2017-05-31T10:00:00","guid":{"rendered":"https:\/\/www.eolus.com\/blog\/mfn_news\/eolus-sells-wind-farm-jenasen-to-munich-re\/"},"modified":"2024-02-20T13:06:26","modified_gmt":"2024-02-20T12:06:26","slug":"eolus-sells-wind-farm-jenasen-to-munich-re","status":"publish","type":"mfn_news","link":"https:\/\/www.eolus.com\/en\/blog\/mfn_news\/eolus-sells-wind-farm-jenasen-to-munich-re\/","title":{"rendered":"Eolus sells wind farm Jen\u00e5sen to Munich Re"},"content":{"rendered":"
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Eolus Vind AB\nOther information disclosed according to the rules of the Exchange\n\nEolus sells wind farm Jenåsen to Munich Re\n\nHässleholm, Sweden, 2017-05-31 12:00 CEST (GLOBE NEWSWIRE) -- \r\n\r\nEolus has signed an agreement with Munich Re regarding the sale of wind farm\r\nJenåsen comprising 23 Vestas wind turbines with an installed capacity of 79 MW.\r\nThe electricity produced by the wind farm will be sold to Google via a power\r\npurchase agreement. \r\n\r\nThe transaction covers the sale of all shares in a project company that owns\r\nthe wind farm. The purchase price amounts to EUR 106 million. Take over and\r\npayment is expected to occur after the completion of the wind farm in the\r\nsummer of 2018. \r\n\r\nAs part of the agreement Eolus has been entrusted to provide technical,\r\noperational and administrative services for the wind farm, located in Liden in\r\nSundsvall municipality, in order to maximize outcome and production from the\r\nfacility. \r\n\r\n-I´m proud that Eolus yet again is entrusted to deliver a wind farm to Munich\r\nRe. Jenåsen is the sixth wind farm developed by Eolus that MEAG\/Munich Re\r\ninvests in. These investments total about 147 MW, says Eolus CEO Per\r\nWitalisson. \r\n\r\nIn connection with the agreement Eolus will, for EUR 9 million, acquire the\r\nright to 96 percent of all electricity certificates that will be produced\r\nduring the 15 year period the wind farm is eligible for certificates. \r\n\r\n-Through the political agreement regarding the extension of the electricity\r\ncertificate system the conditions on the market have been clarified. By\r\nacquiring the right to these electricity certificates a recurring cash flow for\r\nEolus is generated and we see a potential upside for Eolus earnings, says Eolus\r\nCEO Per Witalisson. \r\n\r\n-We greatly value the relationship that Eolus has formed with MEAG\/Munich Re.\r\nWe will do our utmost to meet the expectations that follows with managing their\r\nlarge investments in Swedish wind power says Eolus deputy CEO and COO Marcus\r\nLandelin. \r\n\r\n-We are pleased to announce a further project acquisition in Sweden. The\r\ninvestment makes an attractive and lasting contribution to the risk\r\ndiversification of our portfolio and helps to cover Munich Re’s long-term\r\nliabilities deriving from its insurance business, MEAG Managing Director Holger\r\nKerzel explains. \r\n\r\nAbout MEAG:\r\nMEAG stands for best practice asset management for Munich Re and ERGO. MEAG is\r\nrepresented in Europe, Asia and North America and also offers its extensive\r\nknow-how to institutional investors and private clients from outside the Group.\r\nMEAG currently manages assets to the value of around € 258 billion. \r\n\r\nFor further information contact:\r\nPer Witalisson, CEO, +46 10 199 88 02\r\nJohan Hammarqvist, head of communications, +46 10 199 88 10\r\n\r\nThe information in this press release is disclosed pursuant to the EU Market\r\nAbuse Regulation. The information was released for public disclosure through\r\nthe agency of head of communication Johan Hammarqvist on May 31st 2017, at\r\n12.00 PM CET. \r\n\r\nAbout Eolus:\r\nEolus Vind AB is one of the leading wind power developers in Sweden. Eolus is\r\nactive in the whole value chain from development of green field projects to\r\nconstruction and operation of wind farms. Eolus offers attractive and\r\ncompetitive investments in the Nordic and Baltic countries to both local and\r\ninternational investors. Founded in 1990, Eolus has constructed nearly 500 wind\r\nturbines of the approximately 3 300 wind turbines operating in Sweden. The\r\nEolus Group currently owns an installed capacity of 22 MW and a yearly\r\nelectricity production of 49 GWh. Eolus operates approximately 350 MW for\r\ncustomers and the company itself. \r\n\r\nEolus Vind AB has approximately 5 600 shareholders. Eolus shares are listed at\r\nNasdaq Stockholm. \r\n\r\nFor more information about Eolus, please visit www.eolusvind.com<\/pre>\n
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