Falck Renewables and Eni U.S. close $32.5M deal for solar and wind

Falck and Eni expand solar and wind assets in the U.S.

The U.S. division of the Italian giant, Eni, alongside Falck Renewables, announced this Thursday the closure of a $32.5 million deal for solar and wind developments.

Through Novis Renewable Holdings, Eni U.S and Falck completed the acquisition of Building Energy Holdings U.S. (BEHUS) in a split partnership of 49 and 51% respectively.

According to the report, BEHUS operates up to 62MW wind and solar projects in the U.S., assets that would be into Falck’s and Eni’s portfolio.

With this acquisition, the companies strengthen their position as renewable operators, and complete a development and asset management team. Also, they will own a pipeline of wind projects with up to 160 MW capacity.

Also, through Novis, they operate 175 MW of solar and wind assets, “and a 6.6 MWhr battery system in the U.S.”

The acquisition is part of a series of expanding projects by Eni and Flack, and Novis. Just on November 24, they announced a similar deal, with Savion.

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More renewable deals for Falck and Eni

Together, they bought Savion in a split partnership of 49 – 51% respectively, for the operation of the already build Westmoreland Solar complex.

This complex of 30MW capacity is located in Westmoreland, Virginia. The total investment was of $35 million.

With the upcoming Joe Biden administration, and his promise to accelerate the energy transition in the U.S., acquisitions like this enables competitivity of the sector, as it widens its portfolios and installed capacity.

According to data from the U.S. Federal Energy Regulatory Comission, green energy made up nearly half of all the new capacity added to the grid. This is 7,859 MW of the total 13,753 MW added in the first six months of 2020.

In this regard, green energy makes up 23,04% of the U.S. total available installed generating capacity.

Wind and solar alone, represent 13,08% of the total. With the new administration’s push, green energy is expected to represent a quarter of the total U.S. generating capacity by 2023.

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