Eolus signs 330 MW Power Purchase Agreement with Alcoa for wind farm Øyfjellet in Norway
08 March 2018 - 12:00AM
Eolus signs 330 MW Power Purchase Agreement with Alcoa for wind
farm Øyfjellet in Norway
Hässleholm, Sweden, March 7th, 2018
Eolus is announcing the signing of a Power Purchase Agreement
with Alcoa Norway ANS. Alcoa will purchase all electricity
generated by the new 330 MW wind farm Øyfjellet in Norway, which is
scheduled to be commissioned in 2021.
Over the 15-year duration of the Power Purchase Agreement (PPA),
Alcoa will purchase all the electricity produced at the wind farm,
which is expected to be 1.2 TWh annually. Alcoa will use the
electricity to provide its production plant in nearby Mosjøen with
locally produced electricity.
The long-term nature of the PPA contract ensures that Eolus will
be able to start the construction of the wind farm in 2018, and
that Eolus can offer investors an interesting investment
opportunity in the Nordic market, with a guaranteed long term PPA.
By commissioning the wind farm in 2021 it will qualify for
electricity certificates within the common Norwegian and Swedish
system.
-Øyfjellet is a prime location for wind power and we are very
happy to be able to construct the 330 MW wind farm and offer it to
investors with this PPA signed with Alcoa. This agreement yet again
shows Eolus ability to develop wind projects and provide the market
with interesting investment opportunities says Eolus CEO Per
Witalisson.
-We are very pleased with the fact that Alcoa has chosen to
partner with Eolus and sign a PPA that will provide their
production plant in Mosjøen with locally produced electricity. In
addition to Alcoa providing jobs in Mosjøen the wind farm will give
the local community new business opportunities and jobs for many
years says Marcus Landelin, COO at Eolus.
As part of the deal Eolus has signed a power purchase guarantee
with the Norwegian Export Credit Guarantee Agency (GIEK). The
guarantee amount is EUR 256 million.
For further information contact:
Per Witalisson, CEO, +46 10 199 88 02Johan Hammarqvist, Head of
Communications, +46 10 199 88 10
The information in this press release is disclosed pursuant to
the EU Market Abuse Regulation. The information was released for
public disclosure through the agency of head of communication Johan
Hammarqvist on March 7th, 2018, at 2.00 PM CET.
About Eolus:Eolus Vind AB is one of the leading wind
power developers in the Nordics. Eolus is active in the whole value
chain from development of green field projects to construction and
operation of wind farms. Eolus offers attractive and competitive
investments in the Nordic and Baltic countries to both local and
international investors. Founded in 1990, Eolus has constructed
more than 500 wind turbines of the approximately 3 400 wind
turbines operating in Sweden. Eolus operates approximately 350 MW
on behalf of customers. Eolus Vind AB has approximately 6 600
shareholders. Eolus shares are listed at Nasdaq Stockholm.
For more information about Eolus, please visit
www.eolusvind.com
180307 Press release Eolus signs 330 MW Power Purchase Agreement
with Alcoa for wind farm Øyfjellet in Norway
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