Falck gets 50MW Spanish solar

• PV plant in Aragon has been operational given that June 2020

Falck Renewables has signed a share purchase agreement with Caicos Directorship to acquire a 50MW solar photovoltaic or pv plant.

The offer is for the acquisition of 100% of the share resources of Desafio Solar SLU, proprietor of a Spanish solar plant situated in the municipality of Escatron, in the Aragon area.

The plant, which was developed by Gransolar Desarollo y Construccion, has been in operation because June 2020.

The plant has a power purchase arrangement which covers roughly 70% of the energy generated.

The operation provides for the payment of roughly EUR22m, plus the presumption of the residual debt of the project, financed entirely with own resources and also subject to change within 5 months of closing.

The completion of the deal is expected in April 2021 and also undergoes the authorisation of Banco Sabadell for the takeover of Falck Renewables in the loan contract.

Falck Renewables Chief Executive Officer Toni Volpe stated: "This project notes our entrance right into solar generation in Spain, where we presently have a pipe with grid link rights of over 700MW, of which around one third is currently in stage.

" As soon as the acquisition is finished, Falck Renewables will get to 190 GWh of annual production in Spain, allowing, as in Italy and also the United Kingdom, our integrated energy management design."