Eolus has signed an agreement regarding wind power development on land owned by SCA in Sweden and the Baltic States. Under the cooperation agreement, Eolus and SCA will initiate joint development in a number of projects and Eolus will also be able to sign land lease agreements in other identified project areas.
The goal is to reach an installed capacity of around 1 000MW. In Sweden, the agreement concerns designated areas and in the Baltic States the agreement covers all the properties that SCA currently owns in Estonia and Latvia. Under the agreement, Eolus will sell about 600 hectares of land on Saaremaa in Estonia to SCA, with the parties signing land lease agreements giving Eolus the right to continue developing wind power projects on the properties.