Aquila Capital enters agreement with Eolus Vind for the 400 MW Oyfjellet wind project acquisition

 The Hamburg-based alternative investment specialist Aquila Capital has entered into an agreement with Sweden’s Eolus Vind AB for the acquisition of a 400 MW Oyfjellet wind farm for a total consideration of EUR30 million (US$33.8 million). 

The wind farm is located close to Mosjoen in the municipality of Vefsn, Norway. The construction of the project is expected to begin in autumn 2019 and to be finalized by the fourth quarter of 2021. Eolus will build the wind farm for Aquila under a EUR23 million (US$26million) construction management agreement that will be signed upon the closing of the transaction. The deal is expected to close once the approved detail plan, procurement of wind turbines, grid connection and balance of plant (BOP) agreements are in place. 

Local aluminum supplier Alcoa Norway has signed a 15-year power purchase agreement (PPA) for the output of the project.