Swedish wind developer optimistic despite major setback

Arise books a large deficit due to lower than expected electricity prices, but the firm is convinced the prices will rise again now. Purchases on two project of 80 MW are now underway, says the Vestas customer.

On paper, Swedish wind developer Arise had a bad year in 2017. Revenue was cut in half from SEK 594 million to SEK 257 million (EUR 25.8 million) while the net loss grew from a deficit of SEK 41 million to a loss of SEK 180 million, as evident in the annual report.

The poor result is partly due to lower earnings on the sales from the company's own production, which can partly be contributed to a marginal fall in volumes to 635 GWh. The average earnings fell 12.2 percent to SEK 380/MWh (EUR 38/MWh), which is due to a decline of 8.4 percent on the price of electricity as well as a decline in the price of certificates of 19.9 percent.

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