Onshore wind developer Arise AB is selling a 277MW project in Sweden to a fund managed by UK-based Foresight Group for up to 拢100m (鈧�118.2m).
Arise said the UK-based investment firm is paying an initial 鈧�75m for the K枚lvallen wind project and up to 鈧�25m variable consideration once the construction of the project is completed.
Nasdaq Stockholm-listed Arise said it will invest around 鈧�17m in the project for a 9% equity stake in the wind farm which is expected to be commissioned in early 2025.
Siemens Gamesa will be supplying 42 turbines for the project.
Per-Erik Eriksson, the CEO of Arise, said: 鈥漌e are very happy to have realised the company鈥檚 largest project to date under these market conditions. We have a longstanding relationship with both Foresight and Siemens Gamesa, not least since the sale of Skaft氓sen in 2019, and this partnership is strengthened further through the K枚lvallen project.鈥�
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