Falck Renewables completes acquisition of 50 MW Desafio Solar solar project

Falck Renewables S.p.A. completes the acquisition of 100% of the share capital of Desafio Solar SLU, owning an operating solar plant in Spain. The signing of the Share Purchase Agreement (SPA) with Caicos Directorship, S.L., a company owned by Fund IV, managed by Everwood Capital SGEIC S.A., was announced on March 29, 2021. The transaction involves the payment of a price of approximately EUR22 million (US$25.9 million), and the taking over of the outstanding project financing.

The solar plant (49,88 MW), located in the Municipality of Escatrón, in the Aragon region, was commissioned in June 2020. The plant – which is expected to generate about 88.7 GWh of electricity yearly – has secured a Power Purchase Agreement (PPA) that covers about 70% of the energy produced by the plant.