Established in 2007 and headquartered in Sweden, Arise has evolved into a leading independent renewable energy developer with a footprint in Sweden, the UK, Finland, Norway and Ukraine. Listed on Nasdaq Stockholm, Arise is active across complete project value chain – from exploration and permitting to financing, construction, divestment, and the long-term management of renewable electricity production.

Fenix, with its team of 9 employees, including local management in both Ukraine and Norway, has significant experience in developing and constructing infrastructure projects, including Ukrainian wind farm developments before the war. Through Fenix's existing network in Ukraine, the company has exclusivity over an initial portfolio of approximately 300 MW of early stage solar, onshore wind and storage projects in Ukraine that could reach ready-to-build status within the coming 12-24 months.

Additionally, the strategic partnership with Arise will allow Fenix to accelerate greenfield development in Ukraine, with the goal of securing a sizeable pipeline of projects in the coming years and aligns well with Arise's goal to strategically diversify its business in terms of geographies and technologies.

Arise firmly believes that renewable energy will play a key role in Ukraine's recovery and that the injection of public capital has the potential to transform Ukraine into a significant destination for foreign investment. With excellent conditions for both wind and solar power, we view Ukraine as the last big, untapped market in Europe. Further, this move is a capital efficient way for Arise to establish a strong position in the Ukrainian market and to build a sizeable pipeline for the years to come.