FALCK RENEWABLES SIGNS A PPA FOR THE ENERGY PRODUCED BY ITS HENNØY WIND FARM IN NORWAY
MILAN, Italy, January 30, 2020 – Falck Renewables S.p.A., through its subsidiary Falck Renewables Vind AS, announces the signing of a Power Purchase Agreement (PPA) to sell 70% of the electricity produced by its Hennøy wind farm (Norway) to a major European commodity player.
The agreement, whose duration is 10 years, allows Falck Renewables to hedge 70% of the production of one of its recently constructed projects in the Nordic market.
The Hennøy wind farm (50 MW) – which islocated in the Bremanger Municipality in the west coast of Norway and reached Commercial Operations in December 2019 – will generate approximately 170 GWh of electricity per year, enough to power between 8,700 and 10,900 homes.
“We are excited to complete a long-term Power Purchase Agreement in Norway with a major European player, that allows to secure cash-flows of our plant for the next 10 years and represents a key milestone in our industrial strategy in the Nordic market”, commented Toni Volpe, CEO of Falck Renewables.
Falck Renewables S.p.A., listed on the Italian stock exchange in the STAR segment and included in the FTSE Italia Mid Cap Index, develops, designs, builds and manages power production plants from renewable sources, with installed capacity of 1,133 MW (1,096.5 MW according to the IFRS 11 reclassification) in the United Kingdom, Italy, United States, Spain, France, Norway and Sweden, using wind power, solar power, WtE and biomass technologies. The Group is an international player offering technical consultancy for renewable energy and third party asset management, through its subsidiary Vector Cuatro, which provides customers with these services, for total installed capacity of roughly 2,500 MW, thanks to experience accrued in more than 40 different countries worldwide.
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