Swedish wind project developer Eolus Vind AB (STO:EOLU-B) said it has today closed the acquisition of YIT Energy Oy, the renewables business of Finnish construction company YIT (HEL:YIT).
The deal, which was announced only a week ago, provides Eolus with a 2.3-GW portfolio, including 1.1 GW of mature projects that Eolus says will immediately qualify into its project portfolio. The mature developments include 900 MW of onshore wind and slightly more than 200 MW of solar power projects.
Eolus is buying YIT Energy for a fixed price of EUR 25 million (USD 26.9m), of which EUR 10 million were paid at closing and the remainder will be paid in 2024 and 2025, plus a variable purchase price.
YIT said it records an estimated total purchase price of EUR 48 million and an estimated gain on sale of EUR 46 million.
(EUR 1 = USD 1.076)
