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Arise sells 231-MW wind farm in Sweden to Foresight Group

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Arise sells 231-MW wind farm in Sweden to Foresight Group

Swedish wind developer Arise AB has sold the planned 231-MW Skaftåsen wind farm in Sweden to funds managed by the U.K.'s Foresight Group LLP, the company announced Dec. 11.

Arise received a fixed consideration of about € 19.1 million, and is due an additional €6.4 million in variable consideration upon completion of construction. T he deal also includes an additional production-based earn-out mechanism of up to 4.5 million.

The wind farm will feature 35 6.6-MW Siemens Gamesa Renewable Energy SA turbines. Construction has already begun and commissioning is scheduled in late 2021. Arise will manage construction and operation on behalf of Foresight.