Falck nails UK wind stake sale

Falck Renewables' Kilbraur wind farm in northern Scotland

Falck Renewables' Kilbraur wind farm in northern Scotland is part of the deal

Italian developer Falck Renewables has completed its £154.4m ($256.4m) sale of a 49% stake in six wind farms in the UK to Pension Denmark.

The investment – first reported in Recharge last December – was made via a fund managed by Copenhagen Infrastructure Partners (CIP), in which Pension Denmark is a seed investor.

The six wind farms, located in Scotland and Wales, have a cumulative capacity of 272.8MW and have been sold for £1.4m more than first announced last year, due to further considerations added since, according to Falck.

A further payment of a maximum £10m for 2014 to 2018 will be calculated according to the actual performance of the wind farms, and paid at the end of that period under an earn-out mechanism.

Falck retains indirect control over the project companies running the wind farms, it said.

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