MEAG, Munich Re’s asset manager, is to acquire 38.4 MW of wind power developed by Eolus in a deal worth SEK425 millon.
The agreement covers the delivery of eight Vestas V112 3.3 MW wind turbines for a total of 26.4 MW in wind farm Iglasjön in Kungsbacka municipality and the operational 12 MW wind farm Jung-Åsa comprising of six Vestas V90 2.0MW wind turbines in Vara municipality. Wind farm Jung-Åsa was taken into operation during 2014 and wind farm Iglasjön is under construction and is scheduled to be taken into operation during 2016.
As part of the agreement Eolus will provide technical, operational and administrative services for both projects in order to maximise outcome and production from the facilities.
This is the second investment done by MEAG in Swedish wind power. In 2013 Eolus sold 14 operational wind turbines with an installed capacity of 30 MW to MEAG. Eolus manages also the previous investment on behalf of MEAG.
“MEAG is one of Europe´s largest investors and they have a strong commitment to investments in renewable clean energy,” saysPer Witalisson, CEO of Eolus. “I am very happy that they once again have chosen Eolus as their partner when investing in the Nordic wind sector. It shows that we can provide high-quality facilities and services that are competitive in the current challenging market situation.”
“With the expansion of our existing portfolio in Sweden we are adding more sustainable investments with calculable risks and attractive returns to our portfolio, leveraging the know-how of the entire Group,” says MEAG Managing Director Holger Kerzel.
