Falck Renewables and Eni Us sign an agreement for the purchase of wind and solar plants

Falck Renewables SpA and Eni New Energy US Inc, through Novis Renewables Holdings, LLC (Novis) - a company owned respectively 51% and 49% - announce the signing of an agreement with Building Energy SpA for the acquisition of Building Energy Holdings US, LLC (BEHUS). BEHUS 'business includes 62 MW of wind and solar projects in operation in the United States, a development and asset management team and a pipeline of wind projects up to 160 MW. A 100% subsidiary of Novis will acquire all of BEHUS 'projects, assets under development and other activities, for a total purchase price of $ 32,5 million and is subject to the price adjustment mechanisms typical of these transactions . The acquisition is subject to conditions precedent. Closing is expected by the end of the year.

BEHUS was founded in 2013 by Building Energy SpA, with the aim of developing wind and solar projects in the United States. Novis will acquire five solar plants - totaling 31,59 MW - and a 30 MW wind farm in Iowa. The plants, all in operation, sell energy through PPA contracts (Power Purchase Agreements). Following the closing, Falck Renewables North America, Inc. will provide technical and administrative asset management services, on behalf of Novis, for the management of the newly acquired projects.

Novis will also acquire BEHUS's development and operations team and a development pipeline of wind and solar projects. In particular, two late stage wind projects, up to 80 MW each, in the western United States.

The production of the plants in operation will help offset over 93.000 tons of C02 per year.

"BEHUS is the first transaction of the strategic partnership with Eni, completed in March 2020, and fits perfectly into the joint business plan, contributing to the sustainable growth objectives of both partners", commented Toni Volpe, CEO of Falck Renewables SpA, “We are also increasing our US portfolio with onshore wind projects, both in operation and in development, strengthening our development and operations team”.

“The acquisition of BEHUS represents for Eni a further step forward in the decarbonisation strategy that will see our company increasingly committed to the development and production of energy from renewable sources - commented Massimo Mondazzi, Eni's General Manager of Energy Evolution. As Eni, we have set ourselves very clear objectives both in terms of activities, i.e. to reach 3 GW by 2023 and over 15 GW of installed capacity from renewable sources by 2030, and in terms of emissions, i.e. of all direct and indirect emissions by 80% by 2050 ".

Falck Renewables and Eni Us sign an agreement for the purchase of wind and solar plants

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