Prolongation of the option to acquire the Jädraås project and co-operation with Platina
PRESS RELEASE, Halmstad, 10 July 2011
Arise Windpower AB (Arise) has prolonged its call option to acquire Jädraås Vindkraft AB , a project company which holds existing permits for wind farm projects, inclusive project planning for the construction of 200 MW of wind power capacity, equivalent to 66 wind turbines, in Jädråas (Project). The call option is initially prolonged to the end of August, pending finalising of financing for the Project and the final investment decision, and the call option can be prolonged even further.
Arise has entered into a co-operation for the Project with Platina Partners LLP (Platina), giving Platina the right to acquire and fund half of the Project.
Halmstad, 10 July 2011
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 (SFS 2007:528) and/or the Swedish Financial Instruments Trading Act. The information was released for publication at 20:00 on 10 July 2011.
For further information, please contact
Peter Nygren, CEO Arise Windpower AB (publ), +46 706 300 680
Leif Jansson, Director of Investor Relations, Arise Windpower AB (publ), +46 707 340 554
Mikael Schoultz, Partner Platina Partners LLP, +44 7843 074373
About Arise Windpower AB (publ)
Arise Windpower AB (www.arisewindpower.se) is one of Sweden’s leading companies in onshore wind power. Arise Windpower’s business concept is to sell electricity generated at the company’s own onshore wind turbines in southern Sweden. The company is aiming to install and put into operation about 300 wind turbines with an annual output of about 2 TWh of green electricity by 2014. Arise Windpower is listed on NASDAQ OMX Stockholm.
About Platina Partners LLP
Platina Partners LLP (www.platinapartners.com) (“Platina”) is an independent investment firm focusing on renewable energy production in Europe. Platina manages a portfolio of about €500 million and has a team with many years’ experience of the industry. Platina has established a reputation of consistently delivering attractive returns to its investors, which include leading institutional investors such as the EIB and pension funds as well as private investors. Platina’s 30 partners and employees comprise investment and technical specialists who combine engineering skills and operational experience with strategic and financial expertise. Since its establishment in 2002, Platina has managed and established 306 MW of renewable energy production, of which 244 MW is still managed by Platina.