Arise announces the acquisition and subsequent sale of a 37 MW wind farm to a fund managed by BlackRock
Arise AB (publ) (“Arise”) has exercised its option right to acquire the appr. 37 MW Enviksberget wind farm (the “Project”) from Dala Vind AB. Subsequently, Arise has entered into an agreement with a fund managed by BlackRock, the world’s largest asset manager, for the sale of the Project. Arise has performed final development, design and procurement of the Project, including sourcing an investor. Arise expects that the sale will have a positive impact on earnings of appr. SEK 40 million in total over the years 2018 and 2019. The final outcome in terms of earnings and cash flow is dependent on how construction of the Project proceeds versus plan and budget. The transaction also includes a production based earn-out mechanism.
Arise will manage the construction and once operational, manage the Project on behalf of BlackRock through a construction and asset management agreement.
Siemens will be supplying 9 Siemens SW142 4.1 MW turbines. Construction of the Project will begin in September this year and commissioning is expected late 2019.
“We are very pleased to partner with BlackRock once again. This is the third transaction with BlackRock and we now manage some 330 MW of wind power assets in Sweden and Norway on BlackRock’s behalf. This is a transaction fully in line with our strategy to create value from development, construction and asset management services.”, says Daniel Johansson, CEO of Arise.
“We are delighted to continue our long standing partnership with Arise in completing another transaction in Sweden following our acquisition of the Brotorp and Svartnäs wind farms. We view the Swedish renewables market, and the Nordic region more widely, as an attractive market for wind projects and we have to date invested in more than 600 MW of wind projects across Sweden and Norway producing enough electricity to power more than 300,000 European households.”, says Sverker Åkerblom, portfolio manager in the Renewable Power investment team at BlackRock Real Assets.
“This transaction demonstrates BlackRock’s continued focus on renewable power investments, where the firm now has USD 5bn of equity assets under management, and has invested in over 250 wind and solar projects globally with a combined capacity of close to 5 GW.”, said Rory O’Connor, Managing Director and Head of Renewable Power for Europe at BlackRock.
Halmstad 24 September, 2018
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
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 14.15 CET on 24 September 2018.
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 Stockholm.
About BlackRock
BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of June 30, 2018, the firm managed approximately USD $6.3 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com
About BlackRock Real Assets
In today’s dynamic and complex global investing market, we seek to help our clients’ access real assets that could help meet their investment goals by providing a distinct range of well defined, outcome orientated strategies, along the investment risk - return spectrum.
Our dedicated teams of industry and sector specialists deliver global reach, with deep local expertise. They have decades of relevant experience, are deeply embedded in their operating industries by sector and geography and have developed strong partnership networks over time. BlackRock’s culture of risk management, knowledge sharing and investment discipline sets us apart and underpins all that we do. With over 360 professionals in 25 offices managing over US $41bn in client commitments as of 30 June 2018, BlackRock Real Assets partners with clients to provide solutions tailored to individual portfolio needs such as income, growth, liquid or balanced real assets outcomes.