Swedish Arise Windpower gets loan for Idhult wind farm

Swedish company Arise Windpower AB (STO: AWP) said it has secured a loan from Sweden-based Nordea Bank AB (STO:NDA) for its Idhult wind energy plant in southeastern Sweden.

The size of the loan was not disclosed. The Idhult wind power project in Monsteras municipality comprises eight wind turbines with a combined capacity of 16 MW. The wind turbines have already been built and are currently undergoing tests.

Arise Windpower is one of Sweden’s leading land-based wind energy companies. Arise Windpower’s business concept is to sell electricity produced by its own land-based wind turbines in southern Sweden.

The company’s goal is to commission approximately 300 wind turbines by 2014 which will produce around 2 TWh of environmentally friendly electricity per year. Arise Windpower is listed on NASDAQ OMX Stockholm.