Falck closes buy of 50-MW solar park to arrive in Spain

Falck's solar plant in Aragon

April 20 (Renewables Now) - Italy-based Falck Renewables SpA (BIT:FKR) has finalised the acquisition of Desafio Solar SLU, the project vehicle behind a 49.88-MW solar plant in Spain.

With this move, first announced in late March, Falck cements in entry in Spain's solar market.

Falck paid approximately EUR 22 million (USD 26.5m) to acquire 100% of the vehicle company from Caicos Directorship SL, a firm owned by Fund IV, managed by Everwood Capital SGEIC SA, it said today.

The agreement also includes the Italian firm taking over the outstanding project financing, funding the operation with own resources, according to the previous announcement.

Operational since June 2020, the PV park is located in the municipality of Escatron, Aragon region. The solar farm is capable of generating some 88.7 GWh of electricity annually and has a power purchase agreement (PPA) in place covering 70% of its output, Falck noted.

(EUR 1.0 = USD 1.205)

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