Arise Windpower AB (publ) (“Arise”) (STO:AWP) has signed an exclusivity agreement with Argyll Estates with the right to develop plans for a wind farm with up to 35 turbines and to apply for the planning permission on the estates. Arise plans to file the application for planning permission within 24 months. The site has excellent wind conditions and is situated on the west coast of Scotland. If successful, construction can begin in 2016 at the earliest.
Arise intends to sign more agreements in Scotland giving the right to develop large estates with the objective to realise construction between 2016 and 2018.
The agreement is in line with the company’s strategy of diversification by developing major wind farms outside Swede, for example in Norway and Scotland, independently and in partnership with other long-term investors.
Argyll Estates is situated in the west of Scotland and the size of the estates is more than 30,000 hectares.
Source: Business Wire