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.

Fenix is focusing on accelerating greenfield development in Ukraine, with the goal of securing a sizeable pipeline of projects in the coming year.. This 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.