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December 18 (Renewables Now) - Italy-based Falck Renewables SpA (BIT:FKR) has become the sole owner of Big Fish SPV Srl and Iron SPV Srl, the two project vehicles behind a roughly 285-MW solar portfolio in Italy.
Falck acquired the remaining 30% shares it did not own in each firm from Canadian Solar Inc (NASDAQ:CSIQ), it said on Thursday without providing the value of the purchase.
Big Fish owns a solar project with a capacity of some 250 MW, while Iron SPV holds a photovoltaic (PV) scheme of around 35 MW. Falck bought the 70% stakes in each of the two firms in 2019.
Located in Sicily, the PV projects are currently under development and have already secured grid connection and preliminary land rights.
This move follows Falck Renewables' commitment to develop high-quality greenfield PV projects in the Mediterranean country, the company noted.