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Arise: Acquires 70% of Fenix Repower - Redeye

Redeye comments on Arise’s acquisition of Fenix Repower AS, a Norwegian project developer active in Ukraine and Norway, for a total consideration of NOK0.33m for 70% of the shares. We believe the acquisition gives Arise a platform for long-term growth in Ukraine, which could become an attractive market for renewable projects in certain areas. It also gives Arise access to a portfolio of exclusivity rights for renewable projects corresponding to 300MW. At the same time, Arise gets experienced boots on the ground in Norway and Ukraine, which we find positive.

Redeye comments on Arise’s acquisition of Fenix Repower AS, a Norwegian project developer active in Ukraine and Norway, for a total consideration of NOK0.33m for 70% of the shares. We believe the acquisition gives Arise a platform for long-term growth in Ukraine, which could become an attractive market for renewable projects in certain areas. It also gives Arise access to a portfolio of exclusivity rights for renewable projects corresponding to 300MW. At the same time, Arise gets experienced boots on the ground in Norway and Ukraine, which we find positive.
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