Arise Windpower has completed the sale of its 12.8MW Bohult wind farm in Sweden to a fund managed by Allianz Global Investors.
The investor’s AREF2 fund has acquired the project for €19.1m on a cash and debt free basis, as announced in July.
Bohult wind farm, located in the municipality of Halmstad, features 1.6MW GE turbines that have been operational since 2014.
The cash flow effect of the sale after the repayment of project financing debt and the cancellation of an interest rate swap was about SEK 90m, Arise said.
It will have a ‘slight positive impact’ on 2016 earnings, the Swedish developer said.
Image: Arise
