{"id":19061,"date":"2015-12-21T17:00:00","date_gmt":"2015-12-21T16:00:00","guid":{"rendered":"https:\/\/www.eolus.com\/blog\/mfn_news\/eolus-acquires-two-wind-power-projects-in-the-united-states\/"},"modified":"2024-02-20T12:23:37","modified_gmt":"2024-02-20T11:23:37","slug":"eolus-acquires-two-wind-power-projects-in-the-united-states","status":"publish","type":"mfn_news","link":"https:\/\/www.eolus.com\/en\/blog\/mfn_news\/eolus-acquires-two-wind-power-projects-in-the-united-states\/","title":{"rendered":"Eolus acquires two wind power projects in the United States"},"content":{"rendered":"
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Eolus Vind AB\nCompany Announcement\n\nEolus acquires two wind power projects in the United States\n\nHässleholm, Sweden, 2015-12-21 17:00 CET (GLOBE NEWSWIRE) -- \r\n\r\nEolus has through the recently started subsidiary Eolus North America Inc\r\nacquired two wind power projects under development in the state of Nevada. \r\n\r\nThe transaction means that Eolus will acquire 100 % of the shares in the US\r\ncompanies Crescent Peak Renewables LLC and Comstock Wind LLC for the sum of 50\r\n000 USD. Crescent Peak owns the rights to a wind power project of 200-600 MW\r\nunder development in Clark County, Nevada, and Comstock owns the right to a\r\nwind power project of 20-100 MW under development in Storey, Washoe and Carson\r\nCity County, Nevada. The transaction includes a profit sharing mechanism for\r\nthe future sale of the projects. \r\n\r\nIn August Eolus decided to explore the possibilities to develop wind power\r\nprojects in the Unites States, which is the world’s second largest market for\r\nwind power. Through these acquisitions the first step on to the US market have\r\nbeen taken by Eolus. The purpose of the acquisitions is to develop and optimize\r\nthe projects and then sell them as ready to build projects. \r\n\r\n-The deal means a diversification of Eolus’ project portfolio that gives us an\r\nopportunity to acquire and together with the sellers continue to develop two\r\nprojects with high potential. The need for renewable energy is getting more and\r\nmore attention in the US, both at federal and state level, where several states\r\nhave increased their ambitions regarding renewables says Per Witalisson, CEO of\r\nEolus. \r\n\r\nSince the seller company indirectly to 65 % is controlled by Eolus former\r\nDeputy CEO Hans-Christian Schulze the deal has to be approved by Eolus Annual\r\nGeneral Meeting to be held January 30, 2016. The board's statement and proposed\r\nresolution will be published in the notice for the Annual General Meeting. A\r\nFairness Opinion will be available on the Company's website no later than three\r\nweeks before the Annual General Meeting. \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\n\r\nEolus Vind AB discloses the information provided herein pursuant to the Swedish\r\nSecurities Markets Act and\/or the Swedish Financial Instruments Trading Act.\r\nThe information was submitted for publication on December 21st 2015 at 5 PM\r\nCET. \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 477 wind\r\nturbines of the approximately 3 100 wind turbines operating in Sweden. The\r\nEolus Group currently owns 54 MW of wind power with yearly production of 133\r\nGWh renewable electricity. Eolus asset management services covers about 300 MW\r\nin total. \r\n\r\nEolus Vind AB has approximately 4 100 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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