Dietikon/ Malmö, Tuesday, March 10, 2009
EGL (Elektrizitäts-Gesellschaft Laufenburg AG) entered into an agreement to buy 51.6% of the shares of HS Kraft AB, a developer of wind power projects in Sweden. This acquisition will give EGL access to a large pipeline of projects for exploiting wind power in southern Sweden.
On 9 February 2009, EGL entered into an agreement to buy the majority of the shares of HS Kraft AB, a developer of wind power projects in Sweden. EGL will acquire 51.6% of the shares in order to gain access to a pipeline of 20 projects in the southern part of Sweden, a region with excellent wind conditions. Since the various projects are in different stages of development, the individual investment decisions are planned over a period of several years (2010 to 2014).
In line with EGL's asset strategy
EGL's investment in HS Kraft AB is in line with the company's asset strategy. Part of this strategy is to pursue projects based on the use of renewable energies for electricity production in different European countries. EGL aims to use the investment in HS Kraft to build up its own wind power capacities in Sweden. In the Nordic region, EGL is represented by EGL Nordic AS in Oslo, Norway and EGL Sverige AB in Malmö, Sweden, both of whom have years of xperience in the Nordic power markets.
HS Kraft AB: Essential contacts with landowners
Established in 2006, HS Kraft AB is developing an initial portfolio of 20 wind power projects totalling 226 turbines. The company has entered into partnerships with local landowners for its projects. These contacts and the close cooperation with local parties will be essential for the successful implementation of the projects.
Further information
Roger Welti, Corporate Communications EGL Group, Tel. +41 44 749 40 10, media.ch@egl.eu
Magnus Grill, CEO HS Kraft AB, Tel. +46 40 694 19 60, magnus.grill@hskraft.se
For more information about HS Kraft AB, visit www.hskraft.se (Swedish only).
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