Arise Windpower AB Signed Agreement with DnB Nor for Fröslida Wind Energy Project

Arise Windpower AB (Arise)(STO:AWP) has signed an agreement with DnB Nor for loan financing of the Fröslida wind power project in the municipality of Hylte. The wind farm encompasses 9 wind turbines with an aggregate effect of 22.5 MW.

It is anticipated that production will commence before the end of December 2010. All wind turbines are expected to be in operation by January 2011. This is Arise’s fifth wind farm in southern Sweden. The company will now have 58 wind turbines in operation or under construction, with a total effect of 125 MW. The rate of expansion is in accordance with plan.

The project will satisfy the company’s minimum returns requirement of 10 per cent of total invested capital. The estimated specific investment cost is approximately SEK 5.6/kWh per year.