Arise and Fortum agree to investigate a possible sale of the Kölvallen wind project
Arise AB (publ) group (“Arise”) has signed a letter of intent (“LOI”) with Fortum Sverige AB (“Fortum”) regarding a possible sale of the more than 200 MW Kölvallen wind farm currently in final development (the “Project”).
The LOI targets a sale of the Project to Fortum during the second quarter of 2017. However, such a sale will be subject to among other a successful final development of the Project, including that the Project obtains necessary legal force permits, as well as due diligence and an investment decision by Fortum. The timeline represents a delay from what has previously been communicated by Arise regarding Kölvallen. This is due to longer than expected permitting processes which are still pending.
Halmstad 23 September, 2016
ARISE AB (publ)
For further information, please contact
Daniel Johansson, CEO Arise AB, +46 702 244 133
Linus Hägg, CFO Arise AB, +46 702 448 916
Tero Era, Head of Communications Solar, Wind and New Ventures Fortum, +358 50 541 6337
This information is information that Arise AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on 23 September 2016.
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 firstname.lastname@example.org , www.arise.se
Fortum's vision is to be the forerunner in clean energy. We provide our customers with electricity, heat and cooling as well as other energy solutions that improve present and future life. Already 64% of our electricity generation is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia, Poland and India. In 2015, we employed some 8,000 energy sector professionals, and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq Helsinki . www.fortum.com