Arise plans sale of 200-MW-plus Swedish wind project to Fortum

Swedish onshore wind farms developer Arise AB (STO:ARISE) plans to sell the 200-MW-plus Kolvallen wind project to a local unit of Finnish energy company Fortum Oyj (HEL:FUM1V) in the second quarter of 2017.

Arise announced this on Friday, saying that, for the purpose, it has entered into a letter of intent (LoI) with Fortum Sverige AB.

The particular project, located in Ljusdals municipality, is currently in final development. Its sale is dependent on the completion of that process as well as on securing the required legal force permits. Fortum also needs to implement due diligence and to make a final investment decision, according to Arise’s press release.

The Swedish company noted that the presented timeline is a delay from what was previously communicated due to longer than expected permitting processes.

Arise bought the development rights over the scheme earlier this year.

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