Eolus and Hydro Rein have signed an agreement with MEAG regarding the sale of the majority of shares in the 260MW wind power project Stor-Skalsjon in Sweden.
The transaction covers 75% of the shares in the project company at an enterprise value of €361m (100% basis).
Eolus is to sell all its shares amounting to 51% for a purchase price of €18.4m.
Hydro REIN will sell 24% of the shares for a purchase price of €8.7m and will remain as co-owner of the project with a 25% interest.
Eolus and Hydro Rein acquired the project, which is located in Sundsvall and Timra municipalities in Sweden (SE2), from Enercon in June 2021.
The wind farm will comprise 42 Siemens Gamesa SG 6.6-170 wind turbines (turbine supply agreement communicated on 30 December 2021).
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.
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.