The game itself is set several years after the end of the storyline for the first Risen game, which shipped out in 2009. According to the press release, ".... monstrous creatures have risen from the watery depths of the sea and their attacks have brought all seafaring to a grinding halt." Your player character is, naturally, the only one that can stop the creatures and his adventures take him to a set of island where it's rumored that that the local pirates may be the key to stopping the creatures.
The press release clams that Risen 2 will give the game a number of different choices to solve the game's challenges, along with a "highly interactive environment and a full day/night-cycle affecting countless aspects of the game world." Deep Silver is still keeping mum on Risen 2's release date.
Gallery: Risen 2 Screenshots