Falck puts brakes on wind spend

Falck Renewables' Kilbraur wind farm in northern Scotland

Falck Renewables' Kilbraur wind farm in northern Scotland

Italy’s Falck Renewables will pump the brakes on wind energy in favour of “programmable” generation sources like waste-to-energy, as it lays out a new business plan for 2013-2017 in response to a glum investment climate across Europe.

Falck will continue to spend money on wind in certain markets, especially the UK, where it intends to complete its 15MW Nutberry and 30MW West Browncastle projects – both under construction – as well as its authorised Spaldington and Kingsburn projects.

Finishing those projects will require €145m ($186m) of investment, and bring the company’s total wind capacity to 770MW by the end of 2017. Falck currently has 655MW of wind capacity on its books.

Further reflecting its cautious attitude towards wind, however, Falck hopes to sell non-controlling stakes of up to 49% in Log in to read complete article.

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