U.S. Markets open in 2 hrs 54 mins

European Energy A/S: Term sheet signed for the conditional sale of two wind farms in Germany with a total capacity of 18.6 MW

Company announcement 4/2017

The European Energy Group today signed a term sheet with a German investor for the negotiation of binding agreements for the sale of two wind farms in Germany with total nameplate capacities of 6.6 MW and 12 MW, respectively. The wind farms are located in the German regions of Brandenburg and Lower Saxony and are scheduled to come into operation in April and July 2017, respectively.

The European Energy Group owns 100% of the 6.6 MW wind farm and just below 50% of the 12 MW wind farm.

The term sheet sets out the main conditions for the sales agreements which are expected to be exclusively negotiated and signed in Q2 2017. Closing of the sales agreements will be subject to a number of customary conditions precedent.

Completion of the envisaged sale will contribute positively to European Energy A/S` financial position.

Contact information:

European Energy A/S

Jens-Peter Zink, chairman of the board


ph. + 45 2047 8220

This announcement has been made in accordance with the market abuse regulation (regulation (EU) no. 596/2014 on market abuse).

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: European Energy A/S via GlobeNewswire