Falck pays USD 43m to acquire 71-MW US solar park

Millfield solar park, North Carolina. Author: PRNewsFoto/Duke Energy

December 4 (Renewables Now) - Italy’s Falck Renewables SpA (BIT:FKR) has closed the acquisition of a 99% stake in the partnership that owns the Class B membership interest in the 92-MWp/71-MWac IS-42 solar power plant in North Carolina.

The Italian company announced the completion of the transaction on Friday, saying it has paid some USD 43 million (EUR 36.3m) to acquire the interest from Recurrent Energy, a wholly-owned unit of Canadian Solar Inc (NASDAQ:CSIQ).

Recurrent Energy dedicated the solar plant in late October. The facility has a long-term power purchase agreement (PPA) with Duke Energy Progress. DEPCOM Power built the plant in Cumberland County and is now providing operations and maintenance services.

This is Falck’s first project in the US, according to the announcement.

(USD 1.0 = EUR 0.844)

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription