Commerz Real scraps 68-MW wind power deal with Eolus

Commerz Real, the renewables and real estate investment arm of Germany's Commerzbank AG (ETR:CBK), has cancelled a deal for the purchase of 68 MW of wind power projects in southern Sweden from Eolus Vind AB (STO:EOLU-B).

The deal was terminated because certain conditions related to the lack of sufficient permits were not met, Swedish wind project developer Eolus said on Sunday.

The three projects include the Rosenskog wind farm of 18 MW, the Dallebo park of 26 MW and the Boarp park of 24 MW. All three facilities have power purchase agreements (PPAs) for the sale of 100% of the generated electricity and were to be taken over by Commerz Real in the autumn of 2023.

As a result of the termination, the Swedish firm will pay a fee of EUR 200,000 and its order backlog will fall by EUR 82.5 million (USD 95.7m).

After the failed deal, the sale process for the three projects will be immediately resumed.

(EUR 1 = USD 1.160)

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