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.
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).
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Source: European Energy A/S via GlobeNewswire