Arise makes Swedish swoop
Deal agreed to acquire five wind farms totalling 370MW from Kraftö
Swedish wind farm developer Arise has agreed to acquire five wind farms totalling 370MW from compatriot company Kraftö.
The deal, which is dependent on all projects obtain legal force permits, is expected to be completed on 1 January 2017.
Arise said the transaction is part of its strategy to grow within wind power development, while Kraftö is planning to concentrate on projects that are in a later stage of development or are entering the construction phase.
It will assume responsibility for project development and plans sell the wind farms when they become construction-ready.
Arise chief executive Daniel Johansson said: “We are very pleased with the agreement and believe that the projects have good pre-conditions for realisation.
“Two smaller projects have legal force permits where focus will be to optimise the projects ahead of a pending sale.
“In addition, there are three larger projects comprising approximately 300MW which have yet to be granted permits.”