19/2017: Sale of Gehlenberg wind farm

Athena Investments A/S (“Athena”), former Greentech Energy Systems A/S, signed an agreement for the sale of its German wind farm Gehlenberg to Energiequelle GmbH (“Energiequelle”).

As announced in the Interim Financial Report for H1 2017, the Management of Athena has been pursuing opportunities for the disposal of the Company’s German asset. In continuation hereof, Athena today signed an agreement for the sale of its German wind farm Gehlenberg to Energiequelle, a privately-owned company which develops, constructs and manages renewable energy projects in Germany and Europe. Furthermore,Energiequelle has been involved in the construction of the Gehlenberg wind farm and has been its technical manager since then.

The wind farm consists of 13 turbines for a total net capacity of 23.4 MW and commissioned in December 2001.

The total transaction price for the wind farm amounts to EUR 9.0M.

After the satisfaction of some conditions precedent, Athena expects to complete the transaction within Q1 2018.

 

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