| Work Detail |
Three projects are under construction and will feature Siemens Gamesa SG 6.6-170 turbines
Eolus has sold a portfolio of wind power projects in Sweden totalling 125MW to BKW.
The sites, Skallberget/Utterberget, Tjärnäs and Rosenskog, are under construction and commercial operation is planned for the fourth quarter 2023.
The transaction covers all the shares in the project companies at an enterprise value of €189m and a share purchase price of €19m.
Eolus will manage the construction of the wind farms under a Construction Management Agreement (CMA) on behalf of BKW.
Across the three sites 19 Siemens Gamesa SG 6.6-170 turbines will be used.
Revenues under the CMA is estimated to approximately €29.5m and will be accounted for over the course of the remaining construction period in accordance with the percentage of completion method.
At the end of Q2, the degree of completion is estimated to be around 75% for the 19MW Rosenskog project and around 55% for the Skallberget/Utterberget (79MW) and Tjärnäs (26MW) sites.
Eolus will also provide technical, operational, and administrative services for the wind farms on a long-term contract.
The three developments are located in price area SE3 in Southern Sweden, where there is a strong need for new electricity production to secure access to renewable energy at reasonable prices for private individuals and businesses.
A major global energy company will purchase all the electricity from the wind farms under a PPA. |
