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Arise Concludes Conditional Agreement for Acquisition of Fully Permitted 75 to 120 MW Project

published: 2012-08-02 15:12

Arise Windpower AB (publ) (“Arise”) has concluded a conditional agreement with Ownpower Projects AB (“OPP”) for the acquisition of a fully permitted project in Solberg to the west of Örnsköldsvik.

The project covers 40 wind turbines, of which Arise initially intends to build 25 to 30. The agreement is contingent on the resolution of certain detailed issues with landowners in the project area.

Detailed development plans are currently being drawn up and it is expected that the wind farm will be connected to the grid and go into operation by summer 2014.

The acquisition of the project is in line with the company’s strategy to develop large wind farms in Norway and Sweden.

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