Falck Renewables, Eni sign an agreement to acquire 30 MW Westmoreland solar project in Virginia

Falck Renewables North America, Inc. and Eni New Energy US, Inc. through Novis Renewables Holdings, LLC, a partnership with 51% and 49% shares respectively, have signed an agreement with Savion, LLC (Savion) to acquire the ready to build 30 MW Westmoreland Solar Project located in Westmoreland County, Virginia (US).

Novis will acquire the project upon the satisfaction of certain conditions precedent – expected by the end of November – and will supply safe harbor panels, arrange financing, and perform construction management for the project. The estimated costs for development, construction and transactions costs total US$35 million. The construction of the project is in line with the industrial plan.

Once the project achieves commercial operations – expected in the third quarter of 2021 – it will provide carbon-free solar energy to a regional utility serving consumers and industries for decades, avoiding over 33,000 tons of CO2 per year.