Eolus agrees to sell 130 MW wind project in Sweden to KGAL

Eolus has announced that it has signed an agreement with KGAL regarding the sale of the Bäckhammar wind farm in Sweden. The preliminary purchase price for the wind farm amounts to EUR131 million (US$150.5 million). 

The transaction covers all the shares in the project company that hold the project rights for the wind farm, to be located in the municipalities of Kristinehamn and Degerfors. Eolus will construct the wind farm and KGAL will provide construction financing.

The wind farm will comprise 22 Vestas V136 4.2 MW wind turbines and 9 Vestas V150 4.2 MW wind turbines for a total installed capacity of 130.2 MW.

Bäckhammar wind farm is expected to be delivered turn key to KGAL ESPF 4, a Fund advised by KGAL, and their co-investor Kempen Private Markets Fund in August 2020.

As part of the agreement Eolus has been entrusted to provide technical, operational and administrative services for the wind farm to maximize outcome and production from the facility.

The transaction is subject to fulfillment of a number of conditions before closing.