Falck Renewables acquires a 10 MW windfarm project03 September 2018
The Italian company will pay a total of 1.2 million euros in several installments
Falck Renewables has signed an agreement with Ascia Renovables for the acquisition of a windfarm project to be installed in the region of Castile-León. The project includes four turbines with a total generation capacity of 10 MW and an estimated production of 33 GW.
The acquisition has been divided into several steps. Initially, the Italian company has acquired 49% of the project, which is subject to a series of prior conditions. The total price for the acquisition of the project is 1.2 million euros, which will also be paid in installments.
Operational by the end of 2019
Construction is expected to start by year-end. If the deadlines are met, the commercial transaction will be completed by the fourth quarter of 2019. Ascia and Vector Cuatro will provide asset management services to the plant once it is operational.
According to Carmelo Scalone, Head of Business Development and M&A for Falck Renewables: “This acquisition is a great opportunity for the Group to expand its presence in a high-potential market. We are acting in line with the objective to continue our growth also in Southern Europe, as established in the Industrial Plan for 2017-2021”.