Arise Windpower AB, a Scandinavian renewable-energy developer, plans to build a wind farm in western Scotland as the country targets an 80 percent cut in power-industry emissions by 2030.
Arise will install as many as 35 wind turbines at the wind energy project, its first in Scotland, the Halmstad, Sweden-based company said today in a statement.
Scandinavian developers are expanding abroad as governments promote wind energy to curb emissions. Scotland, which offers subsidies for wind turbines, set a goal on Jan. 29 to reduce carbon-dioxide output from electricity generation to 50 grams of CO2 a kilowatt-hour, from about 347 grams a kilowatt-hour in 2010.
Arise has signed an Exclusivity Agreement with Argyll Estates to develop a major wind farm.
Arise Windpower AB (publ) (“Arise”) has signed an exclusivity agreement with Argyll Estates with the right to develop plans for a wind farm with up to 35 turbines and to apply for the planning permission on the estates. Arise plans to file the application for planning permission within 24 months. The site has excellent wind conditions and is situated on the west coast of Scotland. If successful, construction can begin in 2016 at the earliest.
Arise intends to sign more agreements in Scotland giving the right to develop large estates with the objective to realise construction between 2016 and 2018.
The agreement is in line with the company’s strategy of diversification by developing major wind farms outside Swede, for example in Norway and Scotland, independently and in partnership with other long-term investors.
Argyll Estates is situated in the west of Scotland and the size of the estates is more than 30,000 hectares.
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 1,000 MW of onshore wind power constructed and under management by 2017, of which 500 MW will remain in the ownership of the company. Arise Windpower is listed on NASDAQ OMX Stockholm.
Arise Windpower AB (publ ), Box 808, SE-301 18 Halmstad, Sweden, tel. +46 (0)35 20 20 900, org.no. 556274-6726
E-mail: email@example.com , www.arisewindpower.se