Eolus North America has signed an agreement to acquire a 60 per cent membership interest in Wind Wall Development, from ZCF Wind Wall.
The company has also placed an order with Vestas securing wind turbine components sufficient to secure the ability to capture the full value of the PTC for the first 40 MW of its project pipeline.
Eolus North America, a wholly owned subsidiary of Eolus Vind AB (publ) Sweden, is pleased to announce that it has joined forces with ZCF Wind Wall LLC in a joint venture to develop and construct a wind farm near Tehachapi, CA. The joint venture team will leverage the ZCF team’s extensive history and experience in the US wind energy along with Eolus’ track record of success in the Nordic countries, to develop competitive wind energy projects in the western US.
Eolus North America has placed an order with Vestas for future clean wind energy projects in the United States. The order is part of a master supply agreement that builds on the strong and 25-year long relationship Eolus has with Vestas.
“In just the past three months we have placed orders of over 100 MW with Vestas and this new order demonstrates our strong belief in the US renewable energy market and the partnership we have with Vestas,” says Per Witalisson, CEO of Eolus Vind AB.
“The order secures our ability to capture the full value of the PTC leading to reduced electricity rates for American rate payers. It is also an important step into establishing Eolus in the market, providing added benefit to our current and future investor base that is trusting and collaborating with us,” says Hans-Christian Schulze, Eolus’ Country Manager in the US.
Closing of the transaction regarding purchase of membership interest in Wind Wall Development, is subject to the fulfilment of several conditions, expected to be met by the end of January 2017. The purchase price amounts to USD0.45 million.
