Arise has signed an operations management agreement with Storrun Windfarm
Arise AB has signed a five year operations management agreement with Storrun Windfarm, which represents 30 MW installed capacity. This agreement was signed following the acquisition of Storrun Windfarm by Prime Super, an Australian superannuation fund advised by Whitehelm Capital.
Stephen Burns, Head of Investments Europe and Americas, Whitehelm Capital says: “Whitehelm Capital is a long-term investor that invest in assets with stable long-term cashflows. This investment, with five years of operating history, a long-term power purchase agreement and a wrapped operations and maintenance agreement, will be a good fit for Prime Super’s portfolio. We would hope that this investment is the first of many in the Nordic renewables sector.”
Peter Nygren, CEO Arise: “Arise has since the company started continuously invested in the ability to monitor and control our wind farms in order to secure optimal production and maintenance. We see this agreement with Whitehelm Capital as a confirmation of our competence in this field.”
Arise now manage some 450 MW thereof about 260 MW owned by Arise. The estimated annual production in the windfarms Arise manage, amounts some 1.1 TWh (corresponding to about 10 per cent of the total wind power production in Sweden in 2014).
Halmstad 8 January, 2015
ARISE AB (publ)
For further information, please contact
Leif Jansson, Investor Relations, Arise AB, +46 707 340 554
Per-Erik Eriksson, Head of Asset Management and JV´s, Arise AB, +46 702 409 902
The information contained herein constitutes information which Arise 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 8 January 2015.
Arise is one of Sweden's leading onshore wind power companies. The company´s business concept is to develop, build and manage wind farms for its own and investors´ account with the aim of selling electricity produced by onshore wind turbines. Arise 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