Falck Renewables completed the acquisition of a 70% stake in Iron from Canadian Solar.

Falck Renewables, an alternative energy company, completed the acquisition of a 70% stake in Iron, owner of a roughly 35-MW solar project in Italy, from Canadian Solar, which designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products. Financial terms were not disclosed. Falck will apply for permits and authorisations in 2020 and, once it receives the go-ahead to commence construction works, the Italian company will buy the remaining 30% of Iron SPV. This acquisition confirms Falck Renewables' commitment to developing greenfield photovoltaic projects in Italy.