Arise Acquires the Bröcklingberget Project from Ownpower Projects

A company within the Arise AB group recently entered into an agreement for and acquired all shares in Bröcklingberget Vindkraft AB, which is the project company that has the rights to the Bröcklingberget wind power project (“the Project”). Since previously, Arise has an option to acquire the Project from Ownpower Projects Europe AB (“OPP”). The Project has now entered a stage where Arise finds it attractive to acquire the Project and finalise the development work pending a future sale. In all material aspects, the purchase price comprises an earn-out when and if the Project is realised. The earn-out has a cap and is related to the final size of the Project.

The Project is located in the municipality of Bräcke. Permits for the Project have gained legal force but the grid connection remains to be secured. The Project has been developed by Arise together with OPP and is expected to comprise a maximum of 25 wind turbines in an area with good wind conditions. The Project’s installed capacity is thereby estimated to up to approx. 60 MW. The final size and realisation of the Project depends on successful optimisation and that the grid connection can be secured.

The acquisition of Bröcklingberget lies within Arise’s strategy to acquire and develop attractive wind power projects for the purpose of selling them on to external investors. “We are happy to add yet another interesting project to our portfolio and that our cooperation with OPP has proven to be successful once again”, says Daniel Johansson, CEO of Arise.

Halmstad 17 October, 2016

ARISE AB (publ)

This information is information that Arise AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13.20 CET on 17 October 2016.

Source:Businesswire