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Italian uncertainty pushes Falck to the UK

ITALY: Falck Renewables has been "heavily shifting" its focus to the UK onshore wind market due to uncertainties concerning Italy's incentive scheme.

The move was revealed by Falck Renewables wind and solar director William Heller. He said the Italian company now has an approximately 1GW onshore wind pipeline in the UK, making it one of the country’s biggest wind-energy players.

In a presentation of Falck’s nine-month results, Falck Renewables CEO Piero Manzoni also confirmed that private equity investors remain interested in acquiring minority stakes in its wind and solar assets.

Manzoni indicated that funds from these investors could help finance projects if the liquidity crisis and high financing costs for those loans available continue.

Manzoni also confirmed Falck Renewables would reach a 2011 EBITDA target of €130 million, adding that an EBITDA of €160 million would be "realistic" next year.

In the first nine months of 2011, the company saw EBITDA rise 32.2% to €93.5 million as revenues increased 27.6% to €168.6 million. Installed capacity was 546.3MW, of which 485.2MW in wind.

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