Arise has paid a consideration of SEK83 million (US$11 million).
The farm consists of three wind turbines with a combined output of 5.4 MW. The parties have also concluded a management agreement under which Arise will manage and monitor the operation of the facility on behalf of KumBro.
According to Arise, the transaction is in line with the communicated strategy and will reduce the company’s net debt by the amount of the consideration. The deal is also expected to have a positive impact on earnings for the year.
Arise is one of Sweden's leading onshore wind power companies. The company´s business concept is to develop, build and manage wind farms for its own and investors´ account with the aim of selling electricity produced by onshore wind turbines.
During the last 30 days we have reported about several wind deals in Europe: