Swedish wind farm developer Eolus signed an agreement for the sale of Backhammar, a 130-megawatt (MW) wind farm project in central Sweden, to Germany's KGAL Group, Eolus announced Wednesday.
The preliminary purchase price for the wind farm -- located in the municipalities of Kristinehamn and Degerfors -- is €131 million, according to a statement from the company.
As part of the agreement, Eolus will build the wind farm and KGAL, a leading independent investment and asset manager with an investment volume of €22.7 billion, will contribute funding under construction.
The deal comprises the sale of all shares in the project company that owns the rights to the wind farm.
Eolus ordered 31 wind turbines from Danish Vestas. The wind farm will consist of 22 Vestas V136 4.2 MW wind turbines and 9 Vestas V150 4.2 MW wind turbines with a total installed power of 130.2 MW.
KGAL ESPF 4, a fund administered by KGAL, and their co-investor Kempen Private Markets Fund is expected to acquire Backhammar in August 2020.
According to the statement, this is the fifth wind farm Eolus has agreed to deliver to KGAL.
Eolus Vind is one of the leading developers of wind power plants in the Nordic region, having participated in the construction of more than 540 of the approximately 3,400 wind turbines currently in Sweden, according to the statement.
In total, Eolus' operating organization manages approximately 400 MW of wind power, it said.
By Hale Turkes
Anadolu Agency
energy@aa.com.tr