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.

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