HALMSTAD, Sweden, Feb 08, 2017 /PRNewswire/ --
Today, Arise AB (publ) has entered into an option agreement with Bergvik Skog AB giving Arise the right to acquire all the shares in Svartnäs Vindkraft AB, a company that holds the rights to the wind project Svartnäs (the "Project").
All permits relating to the Project have gained legal force and the grid connection is secured. Arise will continue to develop the Project with the purpose to sell it on to an investor when it is ready for construction. In connection with signing of the option agreement, an option premia will become payable. The consideration for the shares will become payable if and when Arise finally acquires the Project from Bergvik Skog.
The Project is located in the proximity of Arise's co-owned Jädraås wind farm in the municipality of Falun. The potential installed effect of the Project is estimated to approx. 100 MW. The aim is to commission the project at the turn of the year 2018/19. Final size and realization of the Project is dependent on a successful optimization of the Project as well as a successful sales process.
Securing the right to acquire Svartnäs is in line with Arise's strategy to acquire and develop attractive wind projects for on-sale to external investors.
In addition to securing the right to acquire Svartnäs, an agreement has been made with Bergvik Skog on the extension of the right to acquire the wind project Skaftåsen, which Arise since previously holds the right to.
"We are happy to have secured the right to acquire the Svartnäs Project. The project has come a long way in the development process and we hope to be able to successfully sell it on to an investor. We look forward to working together with Bergvik Skog in realising the Svartnäs wind project", says Daniel Johansson, CEO, Arise.
ARISE AB (publ)
For further information, please contact
CEO Arise AB,
CFO Arise AB,
This information is information that Arise AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 8 February 2017.
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SOURCE Arise AB