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Arise and Fortum agree to investigate a possible sale of the Kölvallen wind project

Arise AB (publ) group has signed a letter of intent with Fortum Sverige AB regarding a possible sale of the more than 200 MW Kölvallen wind farm currently in final development.

The LOI targets a sale of the Project to Fortum during the second quarter of 2017. However, such a sale will be subject to among other a successful final development of the Project, including that the Project obtains necessary legal force permits, as well as due diligence and an investment decision by Fortum.

The timeline represents a delay from what has previously been communicated by Arise regarding Kölvallen. This is due to longer than expected permitting processes which are still pending.

Arise AB
Arise, Fortum, Sweden, wind farm

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