Falck acquires 115 MW of wind projects in Sweden

Falck Renewables S.p.A. has entered into an agreement with E.ON Wind Sweden AB (part of the E.ON Group) for the acquisition of 100% of two limited liability companies (Åliden Vind AB and Brattmyrliden Vind AB), owning two ready-to-build projects in Sweden in the municipality of Ӧrnskӧldsvik for an overall capacity of approximately 115 MW (43.2 MW for Åliden and 72 MW for Brattmyrliden).

The two wind farms are located on the Eastern Swedish cost, 500 km North of Stockholm. The projects have been developed by E.ON Sweden AB that will continue to support Falck Renewables on development activities and will act as O&M service provider once the wind farms will be in operation.

The closing of the transaction is expected for the end of September 2017 and is subject to a number of conditions precedents, also regarding the grid connection.

The price of the acquisition will be €7 million (US$8.2 million) , to be paid through existing financial resources and adjusted for the net financial position at closing, plus a potential earn-out in favour of the seller to be added in case of additional benefit for Falck Renewables S.p.A.

Toni Volpe, CEO of Falck Renewables S.p.A., declared:

"This deal and the Norwegian one announced just one month ago represent interesting opportunities to enter into the Nordics wind market and confirm our intention to deliver on the geographical diversification strategy foreseen in our Industrial Plan. We look forward to working with E.ON and the other parties involved to reach a closing for this transaction.”