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Eolus has completed the acquisition of YIT Energy Oy

Eolus has today, 12 December 2023, completed the acquisition of YIT Energy Oy, the renewable energy division of Finland’s largest development and construction company YIT. The transaction was announced 5 December 2023.

Eolus has acquired 100% of the shares in YIT Energy Oy, a wholly owned subsidiary of YIT, for a fixed purchase price of EUR 25 million. EUR 10 million were paid at closing and the remaining amount will be paid in instalments during 2024–2025. The transaction also includes a variable purchase price, which will be defined based on project sales and completed projects up until the end of 2032.

Total potential in the acquired portfolio amounts to 2.3 GW, of which 1.1 GW are mature projects that will qualify into Eolus project portfolio from the start. Approximately 900 MW are onshore wind projects and just over 200 MW are solar power projects. The remaining 1.2 GW are projects in earlier phases. The transaction also includes 16 employees who now join Eolus.

For further information, please contact:
Per Witalisson, CEO, +46 702 65 16 15, per.witalisson@eolusvind.com
Tiina Partanen, Country Manager Finland, +358 40 757 6360, tiina.partanen@eolusvind.com
Karin Wittsell Heydl, Head of Communications and Sustainability, +46 761 16 71 99, karin.heydl@eolusvind.com

ABOUT EOLUS
Eolus is a leading developer of innovative and customized renewable energy solutions. We offer attractive and sustainable investments in the Nordics, the Baltics, Poland and the USA. From development of green field projects to construction and operation of renewable energy assets, we are part of the entire value chain. For over three decades we have worked for a future where everyone can lead a fulfilling, yet sustainable life. Today, our project portfolio includes more than 26 GW wind, solar and energy storage projects. Eolus – shaping the future of renewable energy.

Eolus’s Class B share is listed on Nasdaq Stockholm. www.eolusvind.com

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Eolus has completed the acquisition of YIT Energy Oy

Datum 2023-12-12, kl 14:15
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Eolus has completed the acquisition of YIT Energy Oy
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