U.S.-Sweden Joint Venture To Develop Western Wind Farms

Posted by Betsy Lillian on January 03, 2017 No Comments
Categories : New & Noteworthy

Eolus North America Inc. – a wholly owned subsidiary of Eolus Vind AB of Sweden – has joined forces with ZCF Wind Wall LLC to develop and construct a wind farm near Tehachapi, Calif.

The company signed an agreement to acquire a 60% membership interest in Wind Wall Development LLC from ZCF Wind Wall for $450,000. The transaction is expected to close by the end of January.

The Eolus-ZCF Wind Wall joint venture plans to develop other future wind projects in the western U.S.

Eolus North America has also placed an order with Vestas to secure wind turbine components that will qualify for the full value of the federal production tax credits for the first 40 MW of the company’s U.S. project pipeline. The order is part of a master supply agreement between Eolus and Vestas.

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