Eolus Acquires Two Nevada Wind Power Projects

Posted by NAW Staff on December 22, 2015 No Comments
Categories : Projects & Contracts

Through its recently established North American subsidiary, Sweden-based developer Eolus has acquired two wind power projects under development in Nevada. The transaction means that Eolus will acquire 100% of the shares in the U.S. companies Crescent Peak Renewables LLC and Comstock Wind LLC for the sum of $50,000.

According to Eolus, Crescent Peak owns the rights to a project between 200 MW and 600 MW under development in Clark County, and Comstock owns the right to a project between 20 MW and 100 MW under development in Storey, Washoe and Carson City counties. The transaction includes a profit sharing mechanism for the future sale of the wind 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," says Per Witalisson, CEO of Eolus. "The need for renewable energy is getting more and more attention in the U.S., both at federal and state level, where several states have increased their ambitions regarding renewables."

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