Wind farm in France. Author: Connie Ma. License: Creative Commons, Attribution-ShareAlike 2.0 Generic
Italy-based Falck Renewables SpA (BIT:FKR) has agreed to buy a 59.5-MW wind power portfolio in France from Glennmont Clean Energy Cooperatief UA for about EUR 37 million (USD 42m).
More specifically, the company’s subsidiary Falck Energies Renouvelables SAS will buy five operational wind farms with a total export capacity of 56 MW and an estimated annual generation of 117 GWh.
These plants commenced operations in the period 2006-2013 and benefit from the French remuneration mechanism, with a feed-in tariff (FiT) averaging EUR 90 per MWh. They are expected to contribute earnings before interest, tax, depreciation and amortisation (EBITDA) of some EUR 6.6 million in 2018, Falck noted.
The acquisition is seen to be wrapped up within three months. It will beef up the Italian company’s presence in France and create synergies with other local operating assets, it said.
“We will reach almost 100 MW installed in France, with a portfolio of assets and turbine technologies on which we can build further in terms of industrial optimization and long-term value extraction,” commented Toni Volpe, Falck Renewables’ CEO.