{"id":19067,"date":"2015-12-07T08:30:00","date_gmt":"2015-12-07T07:30:00","guid":{"rendered":"https:\/\/www.eolus.com\/blog\/mfn_news\/munich-re-acquires-38-4-mw-of-wind-power-from-eolus\/"},"modified":"2024-02-20T12:23:40","modified_gmt":"2024-02-20T11:23:40","slug":"munich-re-acquires-38-4-mw-of-wind-power-from-eolus","status":"publish","type":"mfn_news","link":"https:\/\/www.eolus.com\/en\/blog\/mfn_news\/munich-re-acquires-38-4-mw-of-wind-power-from-eolus\/","title":{"rendered":"Munich Re acquires 38.4 MW of wind power from Eolus"},"content":{"rendered":"
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Eolus Vind AB\nCompany Announcement\n\nMunich Re acquires 38.4 MW of wind power from Eolus\n\nHässleholm, Sweden, 2015-12-07 08:30 CET (GLOBE NEWSWIRE) -- \r\n\r\n\r\nEolus has signed an agreement with MEAG, Munich Re’s asset manager, regarding\r\nan investment in 38.4 MW of wind power developed by Eolus, for 425 MSEK. \r\n\r\nThe agreement covers the delivery of eight Vestas V112 3.3 MW wind turbines for\r\na total of 26.4 MW in wind farm Iglasjön in Kungsbacka municipality and the\r\noperational 12 MW wind farm Jung-Åsa comprising of six Vestas V90 2.0MW wind\r\nturbines in Vara municipality. Wind farm Jung-Åsa was taken into operation\r\nduring 2014 and wind farm Iglasjön is under construction and is scheduled to be\r\ntaken into operation during 2016. \r\n\r\nAs part of the agreement Eolus has been entrusted to provide technical,\r\noperational and administrative services for both projects in order to maximize\r\noutcome and production from the facilities. \r\n\r\nThis is the second investment done by MEAG in Swedish wind power. In 2013 Eolus\r\nsold 14 operational wind turbines with an installed capacity of 30 MW to MEAG.\r\nEolus manages also the previous investment on behalf of MEAG. \r\n\r\n-MEAG is one of Europe´s largest investors and they have a strong commitment to\r\ninvestments in renewable clean energy. I am very happy that they once again\r\nhave chosen Eolus as their partner when investing in the Nordic wind sector. It\r\nshows that we can provide high-quality facilities and services that are\r\ncompetitive in the current challenging market situation says Per Witalisson,\r\nCEO of Eolus. \r\n\r\n-With the expansion of our existing portfolio in Sweden we are adding more\r\nsustainable investments with calculable risks and attractive returns to our\r\nportfolio, leveraging the know-how of the entire Group says MEAG Managing\r\nDirector Holger Kerzel. -Sweden is an attractive location for investments in\r\nonshore wind due to its favourable wind conditions. \r\n\r\n-The wind projects will deliver clean and cost effective power to the Swedish\r\nnational grid, while offering long-term stable return for our institutional\r\ninvestor MEAG, Hans-Christian Schulze Sales Director adds. -This transaction\r\nhighlights our abilities to deliver competitive clean energy investments\r\nopportunities to our financial partners whilst benefiting the community and\r\nstrengthening the local economy. \r\n\r\nThe transaction, which includes all shares in the two companies owning the\r\nrespective wind farms, is subject to fulfillment of a number of conditions\r\nbefore closing, which for Jung-Åsa is expected to occur in January 2016 and for\r\nIglasjön at its completion which is scheduled to December 2016. \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 € 255 billion. \r\n\r\nFor further information contact:\r\nPer Witalisson, CEO, +46 10 199 88 02\r\nHans-Christian Schulze, sales director, +46 10 199 88 05\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 7th 2015 at 8.30 AM\r\n(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 477 wind\r\nturbines of the approximately 3 100 wind turbines operating in Sweden. The\r\nEolus Group currently owns and operates an installed capacity of 58 MW and a\r\nyearly electricity production of 144 GWh. Eolus Vind AB has approximately 4 100\r\nshareholders. Eolus shares are listed at NASDAQ Stockholm. \r\n\r\nFor more information about Eolus, please visit www.eolusvind.com<\/pre>\n
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