Falck Renewables, through its subsidiary Falck Renewables Finland Oy, announces today the signing for the purchase of two wind farms, ready to build, in Finland, owned by the Danish group European Energy.

Once in operation, it is estimated that the projects - both located in the municipality of Karstula and with a total installed capacity of 55 MW - will annually produce around 160 GWh of electricity, equivalent to the annual needs of around 19,500 households. [1]

The value of the transaction is based on an Enterprise Value of approximately € 7.3 million, financed entirely with own resources and subject to price adjustment based on certain conditions relating to the closing. 

Toni Volpe, CEO of Falck Renewables, commented: 
"What we have achieved today is an important milestone because it represents Falck Renewables' entry into a new market, the Finnish one. With this acquisition, we continue our growth project, increasing our presence. We are pleased to have reached this important agreement with a company of the caliber of European Energy ”. 

Jens Peter Zink, Senior Vice President of European Energy, commented: 
"The divestiture is a natural step for European Energy to focus on developing new wind, solar and storage projects in Finland. Falck Renewables has the right capacity and expertise to bring projects to achieve the common goal of increasing the production of renewable energy in Finland ".

[1] Calculated on the basis of an average consumption per household of 8,229  kWh / year (Statistics Finland and Findikaattori).