Arise Windpower AB
Arise Windpower expands project portfolio by at least 30 turbines under partnership agreement with Ekesjö Windpower AB
Arise Windpower AB 30.09.2010 08:00 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- PRESS RELEASE Halmstad, 30 September 2010 Arise Windpower AB (Arise) and Ekesjö Windpower AB (Ekesjö) have concluded an agreement under which Arise will take over Ekesjö's project portfolio, comprising about 30 turbines in Nässjö. Under the agreement Arise will be responsible for planning and permit applications for the turbines, with the right to erect and retain half of the turbines for which permits are obtained, with an output of about 40 MW. The remaining turbines will belong to Ekesjö. Construction of the turbines is expected to begin no earlier than 2011/12. The planning and permit application process will be implemented as part of Arise Windpower's ordinary operations and the agreement is deemed to have no or little impact on earnings for 2010. 'The agreement is in line with our strategy to take part in a consolidation of the Swedish wind power market. Ekesjö's project portfolio is interesting, and because we can handle the project planning process using our existing organisation we can implement the expansion without altering the cost estimate, in line with our goal of a return on invested capital in excess of 10 per cent,' Peter Nygren, CEO of Arise Windpower, says. 'Thanks to Arise Windpower's industrial approach, the permit process can be completed faster and more economically than if we were to run it ourselves. By coordinating the building of the turbines, we can achieve further savings. We are very pleased with the agreement and look forward to working with Arise,' Mikael Jönsson, Chairman of Ekesjö Windpower AB, says. Halmstad, 30 September 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 September 2010 at 08.00 a.m. For more information, please contact Peter Nygren, CEO Arise Windpower AB, +46 706 300 680 Mikael Jönsson, Chairman, Ekesjö Windpower AB, +46 31 604 950 About Arise Windpower Arise Windpower is one of Sweden's leading companies in onshore windpower. Arise Windpower's business concept is to sell electricity generated at the company's own onshore wind turbines in southern Sweden. The company is aiming to install and put into operation about 300 wind turbines with an annual output of about 2 TWh of green electricity by 2014. Arise Windpower is listed on NASDAQ OMX Stockholm. www.arisewindpower.se Arise Windpower AB (publ), Box 808, SE-301 18 Halmstad, Sweden, tel. +46 (0)35 20 20 900, org.no. 556274-6726 E-mail: info@arisewindpower.se, www.arisewindpower.se News Source: NASDAQ OMX 30.09.2010 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Arise Windpower AB Sweden Phone: Fax: E-mail: Internet: ISIN: SE0002095604 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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