Arise acquires full stake in Bröcklingberget project

18 October 2016 (Last Updated October 18th, 2016 18:30)

Swedish company Arise has acquired a complete stake in Bröcklingberget Vindkraft, which owns the rights to Bröcklingberget windpower project.

Swedish company Arise has acquired a complete stake in Bröcklingberget Vindkraft, which owns the rights to  Bröcklingberget windpower project.

Having entered into stages of completion, Arise acquired the full stake and began finalising the development work pending a future sale. Financial details of the deal have not been divulged by either company.

"We are happy to add yet another interesting project to our portfolio."

Arise's CEO Daniel Johansson said: “We are happy to add yet another interesting project to our portfolio and that our cooperation with OPP has proven to be successful once again.”

The purchase price comprises an earn-out when and if the project is realised. The earn-out has a cap and is related to the final size of the project.

Jointly developed by Arise and OPP, the project will feature 25 wind turbines and have the ability to generate approximately 60MW of electricity power.

The acquisition is part of Arise's strategy of acquiring and developing potential windpower projects for the purpose of selling these to external investors.