{"id":19143,"date":"2015-01-19T22:00:00","date_gmt":"2015-01-19T21:00:00","guid":{"rendered":"https:\/\/www.eolus.com\/blog\/mfn_news\/eolus-sells-29-wind-turbines-to-ewz\/"},"modified":"2024-02-20T12:24:09","modified_gmt":"2024-02-20T11:24:09","slug":"eolus-sells-29-wind-turbines-to-ewz","status":"publish","type":"mfn_news","link":"https:\/\/www.eolus.com\/en\/blog\/mfn_news\/eolus-sells-29-wind-turbines-to-ewz\/","title":{"rendered":"Eolus sells 29 wind turbines to ewz"},"content":{"rendered":"
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Eolus Vind AB\nCompany Announcement\n\nEolus sells 29 wind turbines to ewz\n\nHässleholm, 2015-01-19 22:00 CET (GLOBE NEWSWIRE) -- \r\n\r\n\r\nToday Eolus signed an agreement with ewz, an electric utility enterprise, for\r\nthe sale of 29 wind turbines in south western Sweden for EUR 95 million. As\r\npart of the agreement Eolus has been entrusted to provide technical services to\r\newz for a period of twelve years and administrative services for a period of\r\nfour years in order to maximize outcome and production from the wind turbines.\r\nThe deal is the single largest in the history of Eolus. \r\n\r\newz, a division of the city of Zurich, aims to annually invest 100-400 million\r\nSwiss francs in renewable electricity production to replace traditional power\r\ngeneration, primarily nuclear. Investing in wind power is key to achieving the\r\nambitious goals that ewz has set. With today’s deal ewz will consolidate its\r\nposition as one of the leading energy utilities in Switzerland and will\r\nstrengthen their commitment to wind energy. Aquila Capital, a leading European\r\nalternative investment company, will be a co-investor in the deal. \r\n\r\nThe purchase price for the shares in the company that owns the wind farms is\r\nEUR 95 million of which approximately 56 million will be paid at the takeover\r\ndate for three wind farms that have been taken into operation. The remainder of\r\nthe purchase price is to be paid at the takeover date for the fourth wind farm\r\nthat is currently under construction. The transactions are subject to\r\nfulfilment of a number of conditions before closing. The whole agreement is\r\nexpected to be completed in the first calendar quarter of 2015. As a result of\r\nthe transaction the debt of the Eolus Group is expected to decline by around\r\nSEK 238 million when the construction loans obtained for the construction is\r\npaid. In total, the agreement will provide a cash contribution of approximately\r\nSEK 650 million. \r\n\r\nUnder the terms of a Power Purchase Agreement signed in January 2014, the\r\nentire output of the four wind farms will be purchased by Google for the next\r\nten years, starting in early 2015.  Google is purchasing the electricity to\r\npower its datacenter facility in Hamina, Finland, with renewable energy. \r\n\r\n-For ewz to choose Eolus as partner when they make their first wind power\r\ninvestment in Sweden demonstrates the trust we in a short time have been able\r\nto create among international investors. The agreement means a lot to Eolus and\r\nconfirms our position as one of the leading wind power developers in the Nordic\r\ncountries, says Per Witalisson, CEO of Eolus. \r\n\r\n-To enter into business with companies such as ewz and Aquila Capital who\r\nstrive to make a difference through strategic investments in renewable\r\nelectricity generation is an exciting and growing part of Eolus activities and\r\nperspectives says Hans-Christian Schulze, Deputy CEO and Head of sales for\r\nEolus. \r\n\r\n-The innovative financing concept enables ewz to deploy the available funding\r\nin a more efficient and targeted manner in order to secure production capacity\r\nfor wind energy in the long term. In addition, the core expertise of ewz as an\r\nenergy provider, that of Eolus Vind AB as a wind farm developer and of Aquila\r\nCapital as a financial service provider, complement one another perfectly says\r\nBruno Hürlimann, Head of Strategic Projects at ewz. \r\n\r\nThe 29 wind turbines of the models Vestas V90, V100 and V112 has an installed\r\ncapacity of approximately 60 MW, and are located in the wind farms Skalleberg\r\nin Hjo Municipality, Alered in Falkenberg Municipality, Mungseröd in Tanum and\r\nRamsnäs in Laxå municipality. \r\n\r\n\r\nA film about the agreement and one of the wind farms can be viewed at:\r\n