Acquisition of Solberg project, 75 to 120 MW, to be completed
conditional agreement with Ownpower Projects AB (“OPP”) for the acquisition of a
fully permitted project in Solberg to the west of Örnsköldsvik, comprising some
40 wind turbines.
As the conditions of the agreement have been met, Arise is now completing the
acquisition.
In an initial stage Arise intends to build 23 turbines with a total capacity of
85 MW. The initial investment is estimated at SEK 1.3 billion.
Work on the detailed development plan for the proposed wind farm will now
commence. A decision to invest will be made once electricity and certificate
prices have recovered somewhat from today’s levels.
The construction time for the project is approximately 14 months, which means
that the wind farm will go into operation towards end of 2014 provided that
construction begins in summer 2013.
The acquisition of the project is in line with the company’s strategy to develop
large wind farms in Norway and Sweden.
Halmstad, 31 August 2012
ARISE WINDPOWER AB (publ)
The information contained herein constitutes information which Arise Windpower
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 11.00 a.m. on 31 August 2012.
