FKR Falck Renewables SpA

By Olivia Bugault

Falck Renewables SpA and ENI SpA's U.S. subsidiary Eni New Energy US Inc. have signed an agreement with Building Energy SpA for the acquisition of wind and solar projects in the U.S. for a total price of $32.5 million, the companies said in a joint statement Thursday.

Under the deal--which went through Novis Renewables Holdings, a partnership between Falck Renewables and Eni U.S. that respectively own a 51% and 49% stake in it--the companies will acquire Building Energy Holdings US, LLC, also known as Behus, they said.

"Behus business consists of 62 megawatts of operating wind and solar projects in the U.S., a development and asset management team and a pipeline of wind projects up to 160 MW," they said.

The purchase price will be adjusted in line with market practice and the deal is expected to close by the end of the year, the companies said.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

August 27, 2020 03:24 ET (07:24 GMT)

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