Onshore wind firm Falck Renewables has sold a 49% stake in five of its Scots windfarms to a Danish investment find for more than £150million
The Milan-based firm, which operates a number of wind energy projects across Europe, has agreed a deal with Copenhagen Infrastructure, a fund sponsored by Danish pension firm PensionDanmark.
The Ben Aketil far on Skye, the Boyndie wind farm between Portsoy and Banff, the Kilbraur farm in Sutherland and the Millennium wind farm near Fort Augustus are all included in the stake, along with the Earlsburn farm in the Campsie Hills and the Cambrian wind project in Wales.
The projects have a cumulative capacity of 272.8MW, with the Danish group paying around £153m for the stake – with the windfarm companies valued at more than £451million.
The deal marks the first stage of a link-up between Falck and the Danish group, which will see new investment in other wind energy projects across Europe.
“I am very pleased to have entered into this partnership, consistent with our industrial plan, which will give the business greater financial stability and strengthen the Group’s position in Europe and internationally,” said Falck chief executive Piero Manzoni
“Moreover, this investment by Copenhagen Infrastructure I, a fund sponsored by Pension Danmark, reinforces the Group’s strong corporate reputation, while simultaneously demonstrates the value of the Group’s assets, its strong management and the expertise of its internal resources.”
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