Falck Renewables S.p.A. and Eni New Energy US Inc, through Novis Renewables Holdings, LLC (Novis), have signed an agreement with Building Energy S.p.A. to acquire Building Energy Holdings US, LLC (BEHUS).
BEHUS was founded by Building Energy S.p.A. to develop wind and solar projects in the United States in 2013. Today, the business consists of 62 Megawatts (MW) of operating wind and solar projects in the US, a development and asset management team and a pipeline of wind projects up to 160 MW.
A wholly-owned subsidiary of Novis will acquire the equity of all the projects, the development assets, and the other activities of BEHUS for a total purchase price of $32.5 million. The closing is foreseen by the end of 2020.
Novis will acquire five operating solar projects totalling 31.59 MW and a 30 MW wind project in Iowa, all of which sell power under Power Purchase Agreements.
Falck Renewables North America, Inc. will provide technical and administrative asset management on behalf of Novis to manage the newly acquired projects.
Novis will also acquire the development and operations team and a wind and solar development pipeline of BEHUS. Specifically, two late-stage up to 80 MW each wind development projects in the western United States.
The generation for the assets offset over 93,000 tonnes of C02 per year.
“BEHUS is the inaugural transaction of the strategic partnership with Eni that closed in March 2020 and fits squarely into our joint business plan contributing to the sustainable growth targets of both partners”, commented Toni Volpe, CEO of Falck Renewables S.p.A.
“We are also adding onshore wind both in operations and development to our portfolio in the USA strengthening our development and operations team,” he said.
“For Eni, the acquisition of BEHUS is another step forward in our decarbonisation strategy, that is increasingly driving our company towards the development and production of energy from renewable sources,” added Massimo Mondazzi, General Manager of Eni’s business group Energy Evolution.
“In Eni, we have set very clear targets for our activities, as we intend to reach 3 gigawatts (GW) by 2023 and over 15 GW of installed capacity by 2030. Our emission targets are equally well defined, with an 80 per cent cut in all our direct and indirect emissions by 2050.”
