{"id":18941,"date":"2016-12-31T01:00:00","date_gmt":"2016-12-31T00:00:00","guid":{"rendered":"https:\/\/www.eolus.com\/blog\/mfn_news\/eolus-acquires-majority-stake-in-californian-wind-project-and-places-order-with-vestas-for-wind-turbine-components\/"},"modified":"2024-02-20T13:06:49","modified_gmt":"2024-02-20T12:06:49","slug":"eolus-acquires-majority-stake-in-californian-wind-project-and-places-order-with-vestas-for-wind-turbine-components","status":"publish","type":"mfn_news","link":"https:\/\/www.eolus.com\/en\/blog\/mfn_news\/eolus-acquires-majority-stake-in-californian-wind-project-and-places-order-with-vestas-for-wind-turbine-components\/","title":{"rendered":"Eolus acquires majority stake in Californian wind project and places order with Vestas for wind turbine components"},"content":{"rendered":"
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Eolus Vind AB\nCompany Announcement\n\nEolus acquires majority stake in Californian wind project and places order with\r\nVestas for wind turbine components\n\nHässleholm, Sweden, 2016-12-31 01:00 CET (GLOBE NEWSWIRE) -- \r\n\r\n\r\nEolus North America, Inc has signed an agreement to acquire a 60 % membership\r\ninterest in Wind Wall Development, LLC from ZCF Wind Wall, LLC. Eolus North\r\nAmerica, Inc has also placed an order with Vestas securing wind turbine\r\ncomponents sufficient to secure the ability to capture the full value of the\r\nPTC for the first 40 MW of its project pipeline. \r\n\r\nEolus North America, Inc, a wholly owned subsidiary of Eolus Vind AB (publ)\r\nSweden, is pleased to announce that it has joined forces with ZCF Wind Wall LLC\r\nin a joint venture to develop and construct a wind farm near Tehachapi, CA. \r\nThe joint venture team will leverage the ZCF team’s extensive history and\r\nexperience in the U.S. wind energy along with Eolus’ track record of success in\r\nthe Nordic countries, to develop competitive wind energy projects in the\r\nwestern US. \r\n\r\nEolus North America has placed an order with Vestas for future clean wind\r\nenergy projects in the United States. The order is part of a master supply\r\nagreement that builds on the strong and 25-year long relationship Eolus has\r\nwith Vestas. \r\n\r\n-In just the past three months we have placed orders of over 100 MW with Vestas\r\nand this new order demonstrates our strong belief in the U.S. renewable energy\r\nmarket and the partnership we have with Vestas says Per Witalisson, CEO of\r\nEolus Vind AB. \r\n\r\n-The order secures our ability to capture the full value of the PTC leading to\r\nreduced electricity rates for American rate payers. It is also an important\r\nstep into establishing Eolus in the market, providing added benefit to our\r\ncurrent and future investor base that is trusting and collaborating with us\r\nadds Hans-Christian Schulze, Eolus’ Country Manager in the U.S. \r\n\r\nClosing of the transaction regarding purchase of membership interest in Wind\r\nWall Development, LLC is subject to the fulfillment of several conditions,\r\nexpected to be met by the end of January 2017. The purchase price amounts to\r\nUSD 0.45M. \r\n\r\nAbout ZCF Wind Wall, LLC:\r\nMembers of the ZCF Wind Wall team have been successfully developing wind energy\r\nprojects in the western U.S. since 1985.  The rest of the ZCF team brings a\r\nunique mixture of diverse financial, engineering and land entitlement talents\r\nneeded to create successful wind projects. \r\n\r\nFor further information contact:\r\nPer Witalisson, CEO, +46 10 199 88 02\r\nHans-Christian Schulze, Eolus country manager in the U.S., +1 858 336 00 67\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 December 30th 2016, at\r\n4.00 PM PST. \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 500 wind\r\nturbines of the approximately 3 300 wind turbines operating in Sweden. The\r\nEolus Group currently owns an installed capacity of 27 MW and a yearly\r\nelectricity production of 60 GWh. Eolus operates approximately 300 MW for\r\ncustomers and the company itself. \r\n\r\nEolus Vind AB has 5 000 shareholders. Eolus shares are listed at Nasdaq\r\nStockholm. \r\n\r\nFor more information about Eolus, please visit www.eolusvind.com<\/pre>\n
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