Announcement no. 07 - 2010. Published on October 29th, 2010. Letter of intent signed on development of 3 wind parks in Eastern Europe Based on the efforts of recent years with the development of projects in renewable energy within the Nordic Development Group, which is part of ASGAARD GROUP, is now signed Letter of Intent on development of 3 specific wind parks in Eastern Europe, with Siva Group, India Based Conglomerate and emerging player in Renewable Energy. The Turbines for the Wind Parks will be supplied and installed as a part of Turnkey contract by WinWinD Oy Finland. Final agreements are expected to be concluded before end of 2010 and will - if implemented - be a significant breakthrough for the group's efforts to create a broader foundation for its activities which to date have primarily consisted of development projects in real estate. Renewable energy as a business area has the potential to contribute significantly to corporate earnings already in the current financial year and when final, binding agreements are present we will present further information regarding structure, project values and possible earnings related to the 3 specific projects. Any inquiries regarding this message: Søren Stensdal, CEO ss@asgaardgroup.com or (+45) 3311 0024 [HUG#1457056]
Letter of intent signed on development of 3 wind parks in Eastern Europe
| Source: Asgaard Group A/S