Arise Windpower AB: Investment Decision on Gettnabo Wind Farm

Arise Windpower AB (STO:AWP) has concluded an agreement with Svenska Vindbolaget AB to acquire the permits for the erection of six wind turbines with a total output of 12 MW in Gettnabo in the municipality of Torsås. Work is scheduled to begin in May 2011 and the wind turbines are expected to be put into operation and handed over in September of the same year.

The wind farm is Arise Windpower’s eighth in southern Sweden and will bring the company’s total number of wind turbines in operation or under construction to 64, with a total output of about 136 MW. The pace of expansion is in line with the company’s expansion plan.

The wind energy project comfortably meets the company’s minimum requirement of a 10 per cent return on invested capital. The estimated specific investment cost is about SEK 5.3/kWh per year.

Arise Windpower 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.