News
Arise AB (publ) (“Arise”) has entered into an agreement with a fund managed by re:cap global investors, a Swiss based asset manager, for the sale of the appr. 45 MW wind farm Bröcklingeberget (the “Project”). Arise has performed development, design and procurement of the Project, including sourcing an investor. Arise expects that the sale will have a positive impact on earnings of appr. SEK 70 million in total over the years 2018 and 2019. The final outcome in terms of earnings and cash flow is dependent on how construction of the Project proceeds versus plan and budget. The transaction also includes a production based earn-out mechanism.
Arise will manage the construction and once operational, manage the Project on behalf of re:cap global investors through construction and asset management agreements.
Siemens will be supplying 11 Siemens DD 142, 4.1 MW turbines. Construction of the Project will begin immediately and commissioning is expected late 2019.
“We are delighted to partner with our new customer, re:cap global investors, and realise the Bröcklingeberget project. This is a transaction fully in line with our strategy to create value from development, construction and asset management services. We look forward to exploit more opportunities with re:cap global investors in the future and are very happy to construct and manage their first investment in Sweden”, says Daniel Johansson, CEO of Arise.
Share
