Per-Erik Eriksson appointed Managing Director of new Arise subsidiary
The Jädraås project is not just northern Europe’s largest onshore wind power project, but also a milestone in the development of Arise Windpower AB (the “Company”). After a successful development phase, half of the project has been sold to Platina Partners. In addition to the profits that the wind farm is expected to generate from the sale of generated electricity, Arise has booked significant gains on sales of parts of the project. The Company will also receive payment for project management during the construction period and for administration once the facility is up and running.
The Company now sees significant opportunities in continuing to develop the concept, inviting other investors to acquire stakes in major wind farms. The concept ensures that profits and cash flows can be obtained at an earlier stage of the wind power projects, and thus complement the Company’s current business model, which focuses on outright ownership of wind farms and longer-term earnings.
Arise is aiming to build one major wind farm with an output of 100 MW or more each year in a project that can then be partially sold, and to build several of smaller wind farms with a total output of 50 to 100 MW, which will be retained by the Company.
To clarify the concept, a new subsidiary called Arise Joint Ventures AB (“Arise JV”) has been established with Per-Erik Eriksson as Managing Director.
Per-Erik has long experience in the field of energy, notably from project management in major projects and market-related issues. Before joining Arise, he worked in the SCA Group, where he was Global Head of Energy. Per-Erik will take up his post in the autumn.
Halmstad, 3 July 2012
ARISE WINDPOWER AB (publ)
The information contained herein constitutes information which Arise Windpower 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 14.00 p.m on 3 July 2012.
For further information, please contact
Peter Nygren, CEO Arise Windpower AB, +46 706 300 680
About Arise Windpower
Arise Windpower is one of Sweden’s leading companies in onshore wind power. Its business concept is to sell electricity generated at the company’s own wind turbines. The company’s target is to have about 700 MW (equivalent to about 300 wind turbines) in operation or under construction by 2014. Arise Windpower is listed on NASDAQ OMX Stockholm
Arise Windpower AB (publ), Box 808, SE-301 18 Halmstad, Sweden, tel. +46 (0)35 20 20 900, org.no. 556274-6726
E-mail: , www.arisewindpower.se