Falck Renewables closes the acquisition of 10 MW wind project from EEC
Falck Renewables S.p.A announces the closing for the acquisition of 49% of Energia Eolica de Castilla S.L. (EEC) from ASCIA Renovables S.L., as announced on July 25, 2018.
EEC owns a wind plant, located in the Spanish region of Castilla y Leόn, consisting of 4 turbines, for a total capacity of 10 MW and an expected production of 33 GWh per year.
The acquisition of 100% of the shares for a total price of about 1.2 million euros (US$1.4 million) will be paid in several tranches. A shareholders' agreement was also signed today to allow the control of EEC by Falck Renewables, as well as a lock-up pact and purchase and sale options exercisable after three years from the date of closing.
Construction of the wind farm is expected to start at the end of the year and commercial operation date will occur within the last quarter of 2019. Asset management services will be provided, according to competences, by Ascia and Vector Cuatro, who has supported Falck Renewables in the transaction.
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