68 MW wind power agreement has been terminated by Commerz Real
Hässleholm, Sweden, October 17th, 2021
On September 29th, 2020, Eolus announced the sale of three wind farms in Sweden with an installed capacity of 68 MW. Eolus has been notified that the investor Commerz Real has terminated the share purchase agreement due to conditions for the transaction not being fulfilled.
As a consequence of the terminated agreement Eolus’ order backlog will decrease with the amount of EUR 82.5 million and signed contracts for future asset management services will decrease by 68 MW. No revenues from the agreement have been recognized in Eolus’ financial reports. Eolus will pay a termination fee of 200,000 EUR to the investor Commerz Real.
Conditions not fulfilled relates to sufficient permits not being granted by the authorities before the long-stop date in the agreement between Eolus and Commerz Real.
Eolus will immediately restart the sales process for the three projects located in southern Sweden.
For further information contact:
Per Witalisson, CEO, +46 70 265 16 15
Johan Hammarqvist, Head of Communications, +46 720 50 59 11
The information in this press release is disclosed pursuant to the EU Market Abuse Regulation. The information was released for public disclosure through the agency of head of communication Johan Hammarqvist on October 17th, 2021, at 10.15 PM CET.
About Eolus:
Eolus Vind AB is one of the leading wind power developers in the Nordics. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries, Poland as well as the United States to both local and international investors. Founded in 1990, Eolus has constructed 666 wind turbines with a capacity of 1 414 MW. Eolus has signed contracts for about 1 330 MW of asset management services of which 921 MW are in operation and the rest under construction.
Eolus Vind AB has 36 500 shareholders. Eolus shares are listed at Nasdaq Stockholm.
For more information about Eolus, please visit www.eolusvind.com
