Loan agreement signed with DnB Nor for Fröslida wind power project
Arise Windpower AB (Arise) has signed an agreement with DnB Nor for loan
financing of the Fröslida wind power project in the municipality of
Hylte. The project encompasses 9 wind turbines with an aggregate effect
of 22.5 MW.
It is anticipated that production will commence before the end of
December 2010. All turbines are expected to be in operation by January
2011. This is Arise's fifth wind farm in southern Sweden. The company
will now have 58 wind turbines in operation or under construction, with
a total effect of 125 MW. The rate of expansion is in accordance with
plan.
The project will satisfy the company's minimum returns requirement of 10
per cent of total invested capital. The estimated specific investment
cost is approximately SEK 5.6/kWh per year.
Halmstad 30 December 2010
ARISE WINDPOWER AB (publ)
The above information is such that Arise Windpower AB (publ) is required
to disclose under the Securities Market Act and/or the Financial
Instruments Trading Act. The information was submitted for publication
on 30 December 2010 at 08.00 am.
For additional information, please contact
Peter Nygren, CEO Tel. +46(0)706-300 680
About Arise Windpower
Arise Windpower is one of Sweden's leading land-based wind power
companies. Arise Windpower's business concept is to sell electricity
produced by its own land-based wind turbines in southern Sweden. The
company's goal is to commission approximately 300 wind turbines by 2014
which will produce around 2 TWh of environmentally friendly electricity
per year. Arise Windpower is listed on NASDAQ OMX Stockholm.
Arise Windpower AB (publ), Box 808, 301 18 Halmstad, tel. +46 35 20 20
900, org.nr. 556274-6726
E-mail: info@arisewindpower.se (info@arisewindpower.se),
www.arisewindpower.se (http://www.arisewindpower.se/)
