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Eolus to build new wind farm that will supply Google's Finnish data center with renewable electricity

HASSLEHOLM, Sweden, Dec. 3, 2015 (GLOBE NEWSWIRE) -- Eolus today announced that it has entered into a power purchase agreement with Google. Google will purchase all of the clean, renewable electricity generated by the new 76 MW wind farm at Jenasen in Sweden, which is scheduled to enter into operation in early 2018.

Over the 10-year duration of the Power Purchase Agreement (PPA), Google will purchase all renewable electricity produced from the wind farm as well as the associated Guarantees of Origin ("GoOs").

The long-term nature of the PPA contract ensures that Eolus will be able to start the construction of the wind farm in 2016 and that Eolus can offer investors an interesting investment opportunity.

-Google's commitment to carbon neutrality is commendable and we are very pleased to help Google, as one of the leading corporations in the world, meet its long term-term renewable energy and sustainability goals. We are also very humble, yet proud, for the fact that Google once again signs a PPA with Eolus to provide the data center in Finland with renewable electricity says Per Witalisson, CEO of Eolus.

-This long term power purchase agreement is a great example of our continued commitment to providing 100% renewable power to our data centers," said Marc Oman, EMEA Energy Strategist at Google. -It makes great financial sense for Google to enter into such contracts, not only because they give us long-term price certainty, but also because they increase the amount of renewable energy generation capacity in the grid, and further reduces our carbon footprint.

- Eolus is one of the most active developers building new wind power in Sweden and we are very familiar with the region where Jenasen will be constructed - we have more than 325 additional MW in late stage development in the surroundings. The construction of Jenasen is the key to unbundle these other large scale so this second deal with Google means a lot not only in itself but also for facilitating future development of new clean wind energy projects says Hans-Christian Schulze Sales Director at Eolus.

This is the second PPA for wind energy between Eolus and Google. The first was signed in January 2014 regarding all electricity produced from 59 MW installed capacity in four wind farms in southern Sweden that were commissioned in 2014 and 2015.

For further information contact:
Per Witalisson, CEO, +46 10 199 88 02
Hans-Christian Schulze, Sales Director, +46 10 199 88 05
Johan Hammarqvist, head of communications, +46 10 199 88 10

Eolus Vind AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication on December the 3rd 2015 at 12.00 (CET).

About Eolus:

Eolus Vind AB is one of the leading wind power developers in Sweden. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries to both local and international investors. Founded in 1990, Eolus has constructed 477 wind turbines of the approximately 3 100 wind turbines operating in Sweden. The Eolus Group currently owns and operates an installed capacity of 58 MW and a yearly electricity production of 144 GWh. Eolus Vind AB has approximately 4 100 shareholders. Eolus shares are listed at NASDAQ Stockholm.

For more information about Eolus, please visit www.eolusvind.com

Source:Eolus Vind AB