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Arise acquires 60MW Brocklingberget wind project in Sweden

Published 18 October 2016

Arise has acquired Bröcklingberget Vindkraft, the company that has the rights to the up to 60MW Brocklingberget wind project in Bracke municipality, Sweden.

Since previously, Arise has an option to acquire the Project from Ownpower Projects Europe. The Project has now entered a stage where Arise finds it attractive to acquire the Project and finalise the development work pending a future sale.

In all material aspects, the purchase price comprises an earn-out when and if the Project is realised. The earn-out has a cap and is related to the final size of the Project.

The Project is located in the municipality of Bräcke. Permits for the Project have gained legal force but the grid connection remains to be secured. The Project has been developed by Arise together with OPP and is expected to comprise a maximum of 25 wind turbines in an area with good wind conditions.

The Project’s installed capacity is thereby estimated to up to approx. 60 MW. The final size and realisation of the Project depends on successful optimisation and that the grid connection can be secured.

The acquisition of Bröcklingberget lies within Arise’s strategy to acquire and develop attractive wind power projects for the purpose of selling them on to external investors.

Arise CEO Daniel Johansson said: “We are happy to add yet another interesting project to our portfolio and that our cooperation with OPP has proven to be successful once again."

Source: Company Press Release