Arise Windpower AB has concluded a conditional agreement with Ownpower Projects AB (OPP) for the acquisition of a fully permitted project in Solberg to the west of Örnsköldsvik, comprising some 40 wind turbines.
As the conditions of the agreement have been met, Arise is now completing the acquisition. In an initial stage Arise intends to build 28 turbines with a total capacity of 84MW. The initial investment is estimated at SEK 1.3 billion. Work on the detailed development plan for the proposed wind farm will now commence. A decision to invest will be made once electricity and certificate prices have recovered somewhat from today's levels. The construction time for the project is approximately 14 months, which means that the wind farm will go into operation towards end of 2014 provided that construction begins in summer 2013.
As the conditions of the agreement have been met, Arise is now completing the acquisition. In an initial stage Arise intends to build 28 turbines with a total capacity of 84MW. The initial investment is estimated at SEK 1.3 billion. Work on the detailed development plan for the proposed wind farm will now commence. A decision to invest will be made once electricity and certificate prices have recovered somewhat from today's levels. The construction time for the project is approximately 14 months, which means that the wind farm will go into operation towards end of 2014 provided that construction begins in summer 2013.
