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The 70% Stake in Fenix Will Finance the Development of Onshore Wind and Solar Projects, and Will Fund Activities with a Team of 9 Employees.
Arise made a strategic acquisition, acquiring 70% of Fenix, a company that excels in the development of solar, onshore wind, and storage projects in Norway and Ukraine. The purchase was completed for approximately NOK 330,000 (€ 28,800) and is part of an agreement that includes financing for Fenix’s project development activities. The company, through its team of 9 employees, has extensive experience in developing infrastructures, including Ukrainian wind farms pre-war.
With the strategic partnership with Arise, Fenix will be able to accelerate the development of greenfields in Ukraine and secure a considerable pipeline of projects in the coming years. This collaboration creates opportunities for both companies to expand their operations into new markets and technologies.
Arise: New Strategic Partnership
Arise, a renewable energy company, has just announced a strategic partnership with Ukraine for the development of solar, onshore wind, and storage projects. The company, based in Norway, plans to significantly expand its initial portfolio in the country, aiming to repower existing infrastructures and develop greenfields in new areas.
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Illiterate or semi-literate grandmothers were trained to repair solar systems, open rural workshops, and light up homes that still depended on kerosene.
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Arise will fund activities through public capital, in an attempt to diversify its energy matrix and reduce dependence on nuclear and thermal power plants, which currently account for the largest part of the capacity under Russian control. With this bold move, the company seeks to face the risky and challenging environment of the Ukrainian energy market, focusing on the recovery of an economy shaken by internal and external conflicts.
The participation of Arise in the Ukrainian market will be led by a team of 9 employees, with local management and significant experience in wind farm developments. The company will focus on strategic partnerships with local investors and energy companies, aiming to accelerate the transition to a greener and more sustainable economy.
The purchase price of existing infrastructures and the development of new projects will be based on financial feasibility analyses, taking into account the local market conditions. Arise believes that renewable energy is the key to Ukraine’s future and is willing to invest in a country with enormous potential, but also many challenges. With its internal experience and its diversified portfolio, the company hopes to contribute significantly to the country’s energy transition in the coming years.
Source: © Re News.Biz
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