Arise acquires the Bröcklingberget project from Ownpower Projects

A company within the Arise AB group has entered into an agreement with Ownpower Projects Europe AB (OPP). to acquire all shares in Bröcklingberget Vindkraft AB, the project company that has the rights to the Bröcklingberget wind power 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.

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.

The project is located in the municipality of Bräcke. Permits for the project have gained legal force but the grid connection remains to be secured. The project has been developed by Arise together with OPP and is expected to comprise a maximum of 25 wind turbines in an area with good wind conditions. The project’s installed capacity is thereby estimated to up to approx. 60 MW. The final size and realisation of the Project depends on successful optimisation and that the grid connection can be secured.

Daniel Johansson, CEO of Arise, 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”.