Vestas sells majority stake in three wind power plants

Source: press release, 28 August 2019

photo: Vestas
photo: Vestas

Vestas has entered into an agreement to sell 80% 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 136 million.

Closing of the transaction is expected to take place within 8 to 10 weeks. The transaction is subject to certain closing conditions, including approval by the Romanian Competition Council.

The sale of projects is expected to be recognised as revenue and earnings within the fiscal year of 2019. Vestas maintains its guidance for 2019.