A fully owned subsidiary within the Arise AB (publ) group (“Arise”) has entered
into an agreement with Fortum Generation AB (“Fortum”), for the sale of the
construction-ready 75 MW Solberg wind farm (the “Project”). In addition to the
sale, Arise will deliver construction management services to the Project.
Construction is subject to a final investment decision by Fortum.
Arise originally acquired the Project from the developer Ownpower Projects AB
(OPP) in 2011. The Project has since then been developed in partnership with OPP
under a profit sharing arrangement. Proceeds from the sale will be divided
between Arise and OPP accordingly. Arise estimates that its share of the profits
will be up to MSEK 30, part of which depends on the final timing and outcome of
the construction of the Project. In addition, Arise will be reimbursed for
accrued capital expenditure at closing, which occurs today, amounting to approx.
MSEK 33. EY has acted as financial adviser to Arise.
“We are delighted to have partnered with Fortum in this project and look forward
to working together with one of the leading energy companies in the region in
delivering this project. We are also pleased that the transaction further
solidifies Arise leading position in the Nordic wind power market. Our portfolio
and construction & asset management platform continue to offer an attractive
proposition to investors in Nordic renewable energy.” says Linus Hägg, CFO of
Arise.
“We are pleased to work with Arise on the development of the Solberg project.
The site is construction-ready with very good conditions for wind power
production. It is a good fit with our recently announced new strategy that
targets significant growth in wind power," says Mikko Iso-Tryykäri Business
Development Manager at Fortum.
Halmstad 29 February, 2016
ARISE AB (publ)
For further information, please contact
Linus Hägg, CFO Arise AB, +46 702 448 916
Peter Nygren, Business Development Arise AB, +46 706 300 680
The information contained herein constitutes information which Arise AB is
legally required to publish under the Swedish Securities Market Act (2007:528)
and/or the Swedish Financial Instruments Trading Act (1991:980). The information
was released for publication at 13.00 pm on 29 February 2016.
About Arise
Arise is one of Sweden's leading wind power companies with the business concept
to develop, build and manage onshore wind farms for its own account and on
behalf of investors. The company is listed on NASDAQ OMX Stockholm.
Arise AB (publ), P.O. Box 808, SE-301 18 Halmstad, Sweden, telephone 46 (0)35 20
20 900, corporate id .no. 556274-6726
E-mail info@arise.se, www.arise.se
