Bergvik Skog has developed Lingbo power project with a right for Platina to acquire the entire project and in turn Arise has the right to acquire 12.5 % to 50 % of the project.
The Lingbo project, which has the capacity of 160MW to 250MW, is fully permitted with the right to deploy about 85 wind turbines.
Construction on the wind farm is estimated to commence in late 2012.
The deal is subject to final approval by the parties’ board of directors, which for Arise is expected to take place on 25 April 2012.
Financing required for Arise to reach an ownership stake in excess of 12.5 % has been raised in a bond issue of SEK350m ($51.99m) announced in this month.
The ownership stake represented by SEK350m ($51.99m) depends on the final size of the project.
