Lingbo has been developed by Bergvik Skog AB with a right for Platina to acquire the entire project and in turn Arise has the right to acquire 12.5 % to 50 % of the project. The Lingbo project is situated approximately 30 kilometers north of the so called Jädraås project and is fully permitted with the right to erect up to 85 wind turbines. Detailed planning and preparations for construction start are ongoing and construction is estimated to begin at the earliest in the autumn/winter 2012.
The memorandum of understanding is subject to final approval by the Parties’ board of directors, which for Arise is expected to take place on 25 April this year. Financing required for Arise to reach a significant ownership stake in excess of 12.5 % has been raised in a successful bond issue of SEK 350m announced earlier this week. The ownership stake represented by SEK 350m depends on the final size of the project. The memorandum of understanding is an extension of the Parties’ successful cooperation in project Jädraås, 203 MW, currently in construction and developing according to plan.
Through the extended cooperation with Platina, Arise is consolidating its position as the leading onshore windpower company in Sweden.
Arise Windpower is one of Sweden’s leading companies in onshore wind power. Its business concept is to sell electricity generated at the company’s own wind turbines. The company’s target is to have about 700 MW (equivalent to about 300 wind turbines) in operation or under construction by 2014. Arise Windpower is listed on NASDAQ OMX Stockholm.
Platina Partners LLP ("Platina") is an independent European investment firm established in 2002- It focuses on renewable energy infrastructure projects (mostly wind and solar) and special situation buyouts to transform businesses. With equity under management of c.?500m and an experienced investment team based in London, Paris and Milan, Platina Partners has a track-record of delivering value to its investor base which comprises leading institutional investors, pension funds and family offices.