September 21 (Renewables Now) - Swedish wind farm developer Arise AB (STO:ARISE) today said it has agreed to sell the Brocklingeberget wind project of about 45 MW to a fund managed by Swiss-based asset manager Re:cap global investors.
The project is located in Bracke municipality, northern Sweden and will use 11 Siemens DD 142, 4.1 MW turbines. Arise developed, designed and carried out procurement of the project. It said that construction will start immediately, with commissioning expected late next year. The company will manage the construction process and then the operational wind farm under construction and asset management agreements.
Re:cap is a new customer for Arise and the deal also marks the first investment in Sweden for the asset manager.
The transaction, which includes a production-based earn-out mechanism, is expected to have a positive effect on Arise's earnings of a total of around SEK 70 million (USD 8m/EUR 6.8m) over the years 2018 and 2019.
(SEK 10 = USD 1.137/EUR 0.968)