Arise Windpower AB (publ) (“Arise”) has concluded a conditional agreement with Ownpower Projects AB (“OPP”) for the acquisition of a fully permitted project in Solberg to the west of Örnsköldsvik. The project covers 40 wind turbines, of which Arise initially intends to build 25 to 30. The agreement is contingent on the resolution of certain detailed issues with landowners in the project area.
Detailed development plans are currently being drawn up and it is expected that the wind farm will be connected to the grid and go into operation by summer 2014.
The acquisition of the project is in line with the company’s strategy to develop large wind farms in Norway and Sweden.
Halmstad, 1 August 2012 ARISE WINDPOWER AB (publ)
The information contained herein constitutes information which Arise Windpower AB is legally required to publish under the Swedish Securities Market Act (2007:528) and/or the Swedish Financial Instruments Trading Act (1991:980). The information was released for publication at 10.00 a.m. on 1 August 2012.
About Arise Windpower 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.