Eolus places order for 74 wind turbines, 279 MW with Vestas

Eolus has signed an agreement with Vestas regarding delivery of 74 wind turbines of the model V136 with a capacity of 279 MW for four wind farms in Sweden. The wind turbines will be constructed in the wind farms Kråktorpet, Nylandsbergen, Sötterfällan and Anneberg.

61 wind turbines have a capacity of 3.8 MW each. Thereof, 43 will be constructed in wind farm Kråktorpet and 18 will be constructed in wind farm Nylandsbergen. These two wind farms are covered by the sales agreement signed with Aquila Capital and which was announced by Eolus in a press release on December 23. Commissioning is expected during the second half of 2019. The projects are located close to wind farm Jenåsen that is currently under construction by Eolus in Sundsvall municipality.

13 wind turbines have a capacity of 3.6 MW each. Thereof, 10 will be constructed in wind farm Sötterfällan and 3 will be constructed in wind farm Anneberg. These wind farms are covered by the sales agreement signed with KGAL which was announced by Eolus in a press release on December 22. Commissioning of Sötterfällan is expected during the summer of 2019 and commissioning of Anneberg is expected during December 2018.

All four wind farms have full service agreements for 15-20 years from commissioning.

-Eolus’ objective is to establish high-quality wind farms with the lowest possible cost of energy over the lifetime. In a market with an extremely fast technical development, long term partnerships with world class turbine suppliers like Vestas is an absolute key to success. This deal is based on a long trustful cooperation between our companies and Vestas has shown great flexibility to meet the projects specific requirements, says Eolus CEO Per Witalisson.

-As the largest order to date between Eolus and Vestas, we are delighted to reaffirm our strong and long-standing relationship. These projects also underline Vestas’ product portfolio’s flexibility and our ability to tailor our solutions to customer needs says Christer Baden Hansen, Vestas Head of Sales Nordics.

For further information contact:
Per Witalisson, CEO, +46 10 199 88 02
Johan Hammarqvist, head of communications, +46 10 199 88 10

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 December 29, 2017, at 2.30 PM CET.

About Eolus:
Eolus Vind AB is one of the leading wind power developers in Sweden. 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 to both local and international investors. Founded in 1990, Eolus has constructed more than 500 wind turbines of the approximately 3 400 wind turbines operating in Sweden. The Eolus Group currently owns an installed capacity of 18 MW and a yearly electricity production of 40 GWh. Eolus operates approximately 350 MW for customers and the company itself.

Eolus Vind AB has approximately 6 600 shareholders. Eolus shares are listed at Nasdaq Stockholm.

For more information about Eolus, please visit www.eolusvind.com

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