The transaction is subject to certain closing conditions, including approval by the Romanian Competition Council
Image: Vestas Wind Systems entrance in Pueblo County, Colorado. Photo: courtesy of Jeffrey Beall/Wikipedia.org.
Vestas has entered into an agreement to sell 80 percent of its shares in the subsidiaries owning the Romanian wind power plants Pantelimon, Pegasus, and Apollo to a non-disclosed buyer for a selling price of EUR 136m.
Closing of the transaction is expected to take place within eight to ten weeks. The transaction is subject to certain closing conditions, including approval by the Romanian Competition Council.
The sale of projects are expected to be recognised as revenue and earnings within the fiscal year of 2019. Vestas maintains its guidance for 2019.
Source: Company Press Release