Visit windpowermonthlyevents.com for the latest on our upcoming conferences and webcasts

United Kingdom

United Kingdom

PensionDanmark buys into UK with Falck deal

UK: Italian renewable energy group Falck said it has agreed to sell a 49% stake in its 273MW in operating UK wind farms to an infrastructure fund managed by pension fund PensionDanmark for about £153 million (EUR 185 million) in cash.

Falck's projects include Cefn Croes wind farm in Wales
Falck's projects include Cefn Croes wind farm in Wales

Falck said the transaction values its six UK operational wind farms at a total of £451.2 million (EUR 546.2 million) including debt, making for an implicit price per megawatt of EUR 2 million. The transaction is expected to close in the first quarter of 2014.

Falck is also creating  a co-investment partnership with that fund to invest in wind and other renewable energy projects in Europe.

According to the terms of the deal, PensionDanmark fund Copenhagen Infrastructure is also expected to make nea- term investments of EUR 100 million in Falck wind projects that are already authorised and under construction. EUR 125 million will be invested in other renewable energy projects.

Falck earlier this year said it would seek a minority investor for UK wind farms and other operational assets and would co-develop future projects. It pointed to banks’ reduced willingness to finance projects, pressure on energy prices and a negative outlook for incentives.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Only [DAYS_LEFT] days Subscribe Now

Left of your Windpower Monthly free trial

Your free trial Subscribe Now

to Windpower Monthly has expired

Windpower Monthly Events

Search more than 4,500 companies in the Windpower Directory

Latest Jobs