Falck agrees purchase of 10-MW wind project in Spain

Wind farm in Spain. Author: Iker Merodio. License: Creative Commons, Attribution-NoDerivs 2.0 Generic

July 27 (Renewables Now) - Falck Renewables SpA (BIT:FKR) has struck a deal to buy a 10-MW wind project in Spain’s Castilla y Leon region, planning to begin construction by end-2018.

Falck said on Wednesday that the acquisition from ASCIA Renovables SL will be carried out in several steps, the first one of which will be the purchase of a 49% stake in the target project. The asset will be bought at a price of EUR 1.2 million (USD 1.4m) as part of Falck’s industrial expansion plan for 2017-2021.

The 10-MW wind power facility in northwestern Spain will use four turbines, expected to generate enound 33 GWh of electricity per year. The machines are slated for commissioning in the last quarter of 2019.

Ascia and Vector Cuatro will provide asset management services to the plant following completion.

“This acquisition is a great opportunity for the Group to expand its presence in a high-potential market,” said Carmelo Scalone, head of business development and mergers and acquisitions for Falck Renewables. He added that the company will continue seeking expansion options to achieve its goal of expanding in Southern Europe.

(EUR 1.0 = USD 1.165)

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