02/22/2013

Sale of Akka Vind AB

Fred. Olsen Renewables AB, which is indirectly owned on a 50/50 basis by Bonheur ASA and Ganger Rolf ASA, has entered into a Sales and Purchase Agreement with Vardar Boreas AS, a wholly owned subsidiary of Vardar AS, for the sale of Akka Vind AB, a wholly owned subsidiary of Fred. Olsen Renewables AB, for a transaction value of about SEK 95 million.

Akka Vind AB is a holding company for a portfolio of small sized wind projects in southern Sweden. The portfolio consists of projects with an installed capacity of 7 MW and an annual production of 17 GWh, in addition to development projects of up to 33 MW.

ABG Sundal Collier acted as financial adviser to Fred. Olsen Renewables.