Eolus has signed an agreement to acquire seven wind power projects in early development phase from Vindkraft Värmland, a subsidiary of Modern Energy. The projects located in SE3 and SE4 are estimated to approximately 450 MW.

Six of the projects that have been acquired are in SE3, and one is in SE4. The final purchase price is dependent upon how the projects develops and is covered by a profit sharing with the seller when the projects a realized.

Eolus has also signed an agreement with the option of purchasing up to an additional volume of 280 MW of three projects in SE3 in the early development process.

“We are seeing a large interest for projects within SE3 and SE4. We are pleased to add these projects in early development phase to Eolus’ Swedish portfolio.”

Gustav Grumert, head of origination at Eolus.

The acquisition of these wind power projects is the first under the new role of Origination set up in January 2020. The aim of the Origination role is to reinforce early project creation by defining strategic partnerships with landowners, acquiring projects under construction, assessing new geographic markets, and asses previous downgraded Eolus projects.