Cubico Sustainable Investments has signed an agreement with Eolus to acquire the 46.5MW Wind Wall 1 located near Tehachapi, California, US.
Consisting of 13 wind turbines of the model Vestas V126, the wind farm is expected to be commissioned during fall of 2020.
The wind power facility is the first wind project developed, financed, and constructed in US by Eolus, which is one of the major wind power developers in the Nordics.
Cubico will be handed over the project following the completion of the transaction.
Eolus North America Country Manager Hans-Christian Schulze said: “It is fantastic to bring new life to Wind Wall with modern large turbines, a project that earlier consisted of hundreds of Vestas V17 90kW turbines built in the mid-80s.
“This is an important milestone for Eolus in California and in the United States, and without our team and continued support from our partners, such as Vestas, Signal and Swedbank, it would not be possible to make this a reality.”
Construction financing for the Wind Wall 1 project was arranged by Eolus.
The project, for which construction has been well advanced, is supported by a 15-year power purchase agreement.
Under the terms of the agreement with Cubico, Eolus will deliver technical, operational, and administrative services for the wind farm.
The services will aimed at maximizing outcome and production from the facility.
Founded in 1990, Eolus Vind entered the US wind market with the establishment of Eolus North America of 2015.
The company has built 653 wind turbines with a capacity of over 1,370MW in Sweden, Norway and Estonia.