Wind power

Eolus and Hydro Rein sell 75% of wind power project

Eolus and Hydro Rein have signed an agreement with MEAG regarding the sale of 75% of the shares in the 260 MW wind power project Stor-Skälsjön in Sweden at an enterprise value of EUR 361.4 million (100% basis).

Eolus is to sell all its shares amounting to 51% for a purchase price of EUR 18.4 million. Hydro Rein will sell 24% of the shares for a purchase price of EUR 8.7 million and will remain as co-owner of the project with a 25% interest.

The wind farm will comprise 42 Siemens Gamesa SG 6.6-170 wind turbines. Construction has started and commissioning is planned for autumn 2023.

Eolus and Hydro Rein will jointly construct the wind farm on behalf of the investors under a Construction Management Agreement (CMA). As part of the agreement, Eolus has also been entrusted to provide technical, operational and administrative services for the wind farm on a 15-year contract.

The transaction is subject to customary approvals from competition authorities and is expected to be completed later 2022.

Eolus was advised by Mannheimer Swartling in the transaction.


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