Falck Renewables invests in Finland

Falck Renewables President, Enrico Falck

 MILAN --Falck Renewables S.p.A., through its subsidiary Falck Renewables Finland Oy, have announced 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. The Enterprise Value of the transaction amounts to approximately 7.3 million euros subject to closing conditions adjustments.

 Toni Volpe, CEO of Falck Renewables, commented, “this 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.”

 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.”

 Falck Renewables S.p.A. is listed on Euronext STAR Milan and included in the FTSE Italia Mid Cap Index and in the MIB ESG Index. It 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. It provides 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. In 2020, it had a net profit of 45.6 million euros.

 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.