Arise Windpower saw its share price rise by 6.2 per cent, its highest in four months, after it signed a contract to take over a wind power project in northern Sweden.

The project outside covers 40 wind turbines, of which Arise initially plans to build 25 to 30, and the company plans to have about 700 MW operational by 2014.

“The acquisition of the project is in line with the company’s strategy to develop large wind farms in Norway and Sweden,” Arise Windpower said in the statement.

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