YIT has signed an agreement on the sale of
The sale includes YIT's project development portfolio of wind and solar power and the personnel working with the business. As announced on
The transaction consists of a fixed and a variable purchase price. The fixed purchase price is
The team of 16 people working with the wind and solar power development portfolio will transfer to
'Eolus has over 30 years of experience in developing the renewable energy business. The company has strong experience and excellent capabilities in taking the renewable energy business forward, which is positive both for our partners as well as personnel. Our team has done an excellent job in building the project development portfolio. Eolus can develop the business forward with more extensive resources and support the future growth. I'm pleased that the strategic review of the business has been successfully completed through this transaction. The deal strengthens our financial position and improves our focus on our core businesses,' said Tuomas Makipeska, CFO,
'We are delighted to have been entrusted to take over the successful renewable energy business of YIT. Eolus's experience, long-term commitment, and staying power, together with the competence in the YIT team, creates excellent conditions for development and realization of the projects in the best possible way,' said Per Witalisson, CEO of Eolus.
The gain on sale is reported in EBIT adjusting items and thereby, it has no effect on YIT's guidance for 2023.
The sale is part of YIT's transformation program, announced on
Contact:
Tel: +358 44 743 7536
Eolus is a leading developer of innovative and customized renewable energy solutions. We offer attractive and sustainable investments in the Nordics, the Baltics,
Eolus - shaping the future of renewable energy. Eolus's Class B share is listed on Nasdaq Stockholm. www.eolusvind.com
YIT Corporation
YIT is the largest Finnish and a significant North European development and construction company. We develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, infrastructure for smooth mobility, and renewable energy solutions to benefit the climate. We employ around 5,000 professionals in nine countries:
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