This partnership will increase Arise’s development portfolio to >2,600 MW from the previous ~1,100 MW, but it does not have any impact on our near-term (’21-‘23e) estimates.
New fair value range of SEK 53-122, depending on execution
The stock is down recently (-9% L3M) and is currently trading below our fair value range. However, this announcement strengthens our view of Arise’s ability to find different ways to increase its development portfolio and it increases the pipeline visibility. On this event alone, we raise our fair value range to SEK 53-122 (49-114) per share. Our valuation is based on a SOTP approach, where we factor in announced projects, partnerships, own wind and asset management operations as well as the probability of success for the long-term pipeline.
Aktuellt
SENASTE
