Acquisition of Solberg project, 75 to 120 MW, to be completed
As announced previously, Arise Windpower AB (publ) (“Arise”) has concluded a conditional agreement with Ownpower Projects AB (“OPP”) for the acquisition of a fully permitted project in Solberg to the west of Örnsköldsvik, comprising some 40 wind turbines.
As the conditions of the agreement have been met, Arise is now completing the acquisition.
In an initial stage Arise intends to build 23 turbines with a total capacity of 85 MW. The initial investment is estimated at SEK 1.3 billion.
Work on the detailed development plan for the proposed wind farm will now commence. A decision to invest will be made once electricity and certificate prices have recovered somewhat from today’s levels.
The construction time for the project is approximately 14 months, which means that the wind farm will go into operation towards end of 2014 provided that construction begins in summer 2013.
The acquisition of the project is in line with the company’s strategy to develop large wind farms in Norway and Sweden.
Halmstad, 31 August 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 11.00 a.m. on 31 August 2012.
For further information, please contact
Peter Nygren, CEO Arise Windpower AB, +46 706 300 680
Leif Jansson, Director of Investor Relations Arise Windpower AB, +46 707 340 554
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: info@arisewindpower.se,
www.arisewindpower.se
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