Arise announces the sale of the appr. 45 MW Bröcklingeberget wind farm to a fund managed by re:cap global investors
Arise AB (publ) (“Arise”) has entered into an agreement with a fund managed by re:cap global investors, a Swiss based asset manager, for the sale of the appr. 45 MW wind farm Bröcklingeberget (the “Project”). Arise has performed 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 70 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 re:cap global investors through construction and asset management agreements.
Siemens will be supplying 11 Siemens DD 142, 4.1 MW turbines. Construction of the Project will begin immediately and commissioning is expected late 2019.
“We are delighted to partner with our new customer, re:cap global investors, and realise the Bröcklingeberget project. This is a transaction fully in line with our strategy to create value from development, construction and asset management services. We look forward to exploit more opportunities with re:cap global investors in the future and are very happy to construct and manage their first investment in Sweden”, says Daniel Johansson, CEO of Arise.
About re:cap global investors:
Re:cap global investors acquired the Project for the Wind Infrastructure I, a sub-fund of Luxembourg special fund FP Lux Investments. Including this transaction, the total capacity of the portfolio exceeds 300 MW. This makes the Wind Infrastructure I one of the largest onshore wind funds in Europe. The fund was designed exclusively for institutional investors and invests directly in onshore wind projects in countries across Europe such as Germany, Finland, France and now Sweden. This makes the fund particularly interesting for security-oriented investors.
Halmstad 21 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 MarketAbuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 12.20 CET on 21 September, 2018.
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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.
Arise AB (publ), P.O. Box 808, SE-301 18 Halmstad, Sweden, telephone 46 (0)10 450 71 00, corporate id .no. 556274-6726
E-mail info@arise.se, www.arise.se