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Arise sells 2 wind farms to TRIG and InfraRed in Sweden

Arise announces the sale of the Ranasjö and Salsjöhöjden wind farms in Sweden to TRIG and InfraRed, investment companies.|Arise announces the sale of the Ranasjö and Salsjöhöjden wind farms in Sweden to TRIG and InfraRed, investment companies.

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Arise announces the sale of the Ranasjö and Salsjöhöjden wind farms in Sweden to TRIG and InfraRed, investment companies.
Closing of this contract is contingent on the prior conclusion of definitive agreements for the construction of the wind farm projects.

Arise sells 242 MW of wind power

The transaction between renewable electricity producer Arise and investment companiesThe Renewables Infrastructure Group Limited (TRIG) and InfraRed will involve a project portfolio of 242 MW.
This includes the unbuilt Ranasjö and Salsjöhöjden wind projects in Sweden.
The sale is expected to be completed by the end of June 2021.
For this sale, Arise will receive a fixed consideration of 8.5 million euros.
Subsequently, a variable consideration of 11.6 million euros is expected to be paid once the projects are completed.

Expected earnings of SEK 140 million between 2021 and 2024

Thanks to this sale, the company should receive a profit of around SEK 140 million, or €14 million, between 2021 and 2024.
In the second quarter of 2021 alone, revenues are expected to amount to SEK 45 million.
However, these profits and considerations may vary depending on the delivery of the projects.

Projects initiated by Arise and NordanVind Vindkraft

To complete this transaction, Arise will acquire the shares in the Ranasjö and Salsjöhöjden wind farm projects through an option agreement with NordanVind Vindkraft.
Arise and NordanVind Vindkraft have been the initiators of these wind farms for the past three years.
The rights to these projects are currently held by Krange Vind AB.

A wind farm up and running by 2024

Arise will be responsible for the construction and management of these projects on behalf of TRIG and InfraRed.
This work will be carried out under a construction and asset management agreement.
Construction of these projects is scheduled to start in 2021 and be completed in 2024. Siemens Gamesa will participate in the construction by supplying 39 turbines, each rated at 6.2 MW.
The sale of two wind farms has strengthened Arise’s economic prospects.
This transaction brings its asset management portfolio to 1,350 MW.

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