JVAB, owned in equal shares by Ownpower Projects Europe and Bergviks Skog, holds a permit to erect 116 wind turbines in Jädraås west of Gävle in Sweden.
Arise and Platina, will establish a new equal ownership company, which plans to build a 200MW wind farm.
In the first phase, 43 wind turbines of approximately 130 MW will be installed while an additional 23 wind turbines of 70 MW are expected to be installed by 2012.
The power project, which will include 66 units of Vestas V112 turbine, will be funded through equity and bank funding.
The wind energy project is expected to generate 570GWh of renewable electricity annually.
The total investment in the Jadraas project including the acquisition and erection of the 66 turbines is SEK3.1bn ($454.5m).
