Arise intensifies the development of project Lebo
In 2016, Arise acquired five projects from Kraftö AB, of which Fasikan and Finnåberget are in active development phases. In all material aspects, the acquisition was made through future additional considerations payable when and if the projects are realised. In parallel to Fasikan and Finnåberget, development work has been ongoing regarding another project in the Kraftö portfolio, project Lebo (the ”Project”). Considering the current status of the Project, Arise has decided to pay the additional consideration for the Project early, with a view to realise the project during 2021-2022.
The Project consists of 4-5 turbines, totalling approx. 25-30 MW and is located in the municipality of Västervik in price area 3.
The Project is permitted with a maximum tip height of 200 metres and work is currently ongoing to secure a commercially attractive grid connection.
Halmstad 14 May, 2020
ARISE AB (publ)
For further information, please contact
Daniel Johansson, CEO Arise AB, +46 702 244 133
This information was submitted for publication, through the agency of the contact person set out above, at 10.05 CET on 14 May, 2020.
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