Falck Renewables signs contract for the purchase of two ready-to-build wind farms in Finland

PRESS RELEASE

Falck Renewables signs contract for the purchase of two ready-to-build wind farms in Finland

Milan, Italy, 3 November 2021 – Falck Renewables S.p.A., through its subsidiary Falck Renewables Finland Oy, announces the signing of the contract for the purchase of two ready-to-build wind farms in Finland, from Danish group, European Energy.

Once in operation, the projects – both located in the municipality of Karstula, with a total installed capacity of 55 MW – are expected to produce around 160 GWh of electricity annually, equivalent to the energy needs of around 19,500 households.  [1] 

The Enterprise Value of the transaction amounts to approximately € 7.3 million, financed entirely with own financial resources and subject to closing conditions adjustments.

Toni Volpe, CEO of Falck Renewables, commented: “Today’s acquisition represents an important milestone as it marks Falck Renewables’ first entry into the Finnish market. With this acquisition we are continuing our growth and increasing our international presence. We are delighted to have reached this important agreement with a company of calibre of European Energy.“

Jens Peter Zink, European Energy’s Senior Vice President, said: “The divestment is a natural step for European Energy to focus on developing new wind, solar and energy storage projects in Finland. Falck Renewables has the right capacity and competence to push the projects towards the common goal of more renewable energy in Finland.”  

 [1] Calculated based on an average consumption per household of 8,229 kWh/year (Statistics Finland and Findikaattori).

***

Falck Renewables S.p.A., listed on Euronext STAR Milan and included in the FTSE Italia Mid Cap Index and in the MIB ESG Index, develops, designs, builds and manages power production plants from renewable sources, with an installed capacity of 1,320 MW (1,283 MW according to the IFRS 11 reclassification) in the United Kingdom, Italy, United States, Spain, France, Norway and Sweden, using wind power, solar power, WtE and biomass technologies. The Group is a global player in the renewable energy technical advisory and asset management services business, through its wholly owned subsidiary Vector Renewables, providing asset management services to clients accounting for approximately 3,800 MW of installed capacity and with experience in more than 40 countries. Also, Falck Renewables provides highly specialized energy management and downstream services to both energy producers and consumers. Visit www.falckrenewables.com and connect with us on LinkedIn and Twitter (@falckrenewables). 

European Energy develops, finances, constructs and operates wind and solar farms as well as large-scale PtX plants. Based in Copenhagen, Denmark, the company has a strong track record as a renewable energy operator across Europe, Brazil, USA and Australia.

Contacts:
Falck Renewables

Giorgio Botta – Investor Relations – Tel. +39 02 2433 3338

Elena Roda – Media Relations – Tel. + 39 02 2433 2297

SEC Newgate S.p.A
Daniele Pinosa, Fabio Leoni, Fabio Santilio – Tel. +39 02 6249991

CDR Communication
Vincenza Colucci – Tel. +39 335 6909547