Swedish wind farm developer Arise has agreed to sell the 200MW-plus Kolvallen project to Finnish utility Fortum.
A letter of intent has been signed between the two parties pending “successful final development of the project”, including final legal permits, due diligence and an investment decision by Fortum.
The deal could be closed before summer 2017.
“The timeline represents a delay from what has previously been communicated by Arise regarding Kolvallen,” said the Swedish company.
“This is due to longer than expected permitting processes which are still pending,” it added.
Arise took 100% control of the wind farm from project partners earlier this year. Top power has since jumped from 150MW.
Image: the Arise portfolio includes the Jadraas wind farm (Arise)
