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Eolus acquires two wind power projects in the United States

Eolus has, through its subsidiary Eolus North America, acquired two wind power projects under development in the state of Nevada.

The transaction means that Eolus will acquire 100 per cent of the shares in the US companies Crescent Peak Renewables LLC and Comstock Wind LLC for the sum of 50 000 USD. Crescent Peak owns the rights to a wind power project of 200-600 MW under development in Clark County, Nevada, and Comstock owns the right to a wind power project of 20-100 MW under development in Storey, Washoe and Carson City County, Nevada. The transaction includes a profit sharing mechanism for the future sale of the projects.
 
In August Eolus decided to explore the possibilities to develop wind power projects in the Unites States, which is the world’s second largest market for wind power. Through these acquisitions the first step on to the US market have been taken by Eolus. The purpose of the acquisitions is to develop and optimise the projects and then sell them as ready to build projects.
 
“The deal means a diversification of Eolus’ project portfolio that gives us an opportunity to acquire and together with the sellers continue to develop two projects with high potential. The need for renewable energy is getting more and more attention in the US, both at federal and state level, where several states have increased their ambitions regarding renewables,” says Per Witalisson, CEO of Eolus.

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