Home Europe & UK Arise AB: Arise and Fortum Agree to Investigate a Possible Sale of the Kölvallen Wind Project
Arise AB: Arise and Fortum Agree to Investigate a Possible Sale of the Kölvallen Wind Project

Arise AB: Arise and Fortum Agree to Investigate a Possible Sale of the Kölvallen Wind Project

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Arise AB  group  has signed a letter of intent (“LOI”) with Fortum Sverige AB (“Fortum”) regarding a possible sale of the more than 200 MW Kölvallen wind farm currently in final development (the “Project”).

The LOI targets a sale of the Project to Fortum during the second quarter of 2017. However, such a sale will be subject to among other a successful final development of the Project, including that the Project obtains necessary legal force permits, as well as due diligence and an investment decision by Fortum. The timeline represents a delay from what has previously been communicated by Arise regarding Kölvallen. This is due to longer than expected permitting processes which are still pending.

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Anand Gupta Editor - EQ Int'l Media Network

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