Arise acquires the Kolvallen project from Ownpower Projects in Sweden

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Arise acquires the Kolvallen project from Ownpower Projects in Sweden

A company within the Arise AB group has exercised its option to acquire all shares in Kölvallen Vind AB, which is the project company that has the rights to develop the Kölvallen wind power project.

Arise has acquired the project company from Ownpower Projects Europe AB (OPP) for a purchase price of US$2.5 million, of which US$1.85 million has been paid in connection with closing of the transaction and US$0,62 million will be paid at a later stage when certain project criteria are fulfilled.  

The project, which is located in Ljusdals municipality, has been developed by Arise together with OPP. The project’s installed capacity is estimated to approx. 180 MW.

Daniel Johansson, CEO of Arise, said:

“We look forward to being able to offer an attractive project to investors in renewable energy. We are also happy with our long-standing partnership with OPP, which provided us with this opportunity,” .

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