Arise Windpower Acquires Swedish Wind-Farm Venture From Bergvik

August 21, 2012 by  
Filed under Green Energy News

Arise Windpower AB (AWP), a Swedish
developer of renewable-energy projects, acquired a wind-farm
venture in the Nordic country from Bergvik Skog AB.

The wind park, to be built in Harjedalen, central Sweden,
will comprise 130 turbines with a total capacity of about 400
megawatts, Arise said today in a statement, without disclosing
terms. It still needs an environmental permit to proceed.

Arise is targeting a fivefold expansion in wind turbines by
2014 as Sweden seeks to generate 49 percent of its power from
renewable sources by the end of the decade. The country is among
European nations promoting wind projects to meet energy demand
while curbing emissions and reducing fossil-fuel imports.

Wind assets under development can typically sell for 25,000
euros ($31,000) a megawatt, suggesting an indicative price of 10
million euros for the Arise transaction, according to researcher
Bloomberg New Energy Finance.

Arise already has 64 wind turbines in operation and 33
under construction. The Halmstad-based company plans to have 300
turbines operating or being built by 2014. It said last week it
will invite institutional investors such as pension funds to
take stakes in wind farms to generate funds for new projects.

To contact the reporter on this story:
Tom Metcalf in London at
tmetcalf7@bloomberg.net

To contact the editor responsible for this story:
Reed Landberg at
landberg@bloomberg.net

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