Falck Renewables sells stake in UK wind farms to Danish fund

MILAN, Dec 3 (Reuters) - Italian renewable energy group Falck Renewables (Milan: FKR.MI - news) said on Tuesday it had agreed to sell a 49 percent stake in its British wind farm projects to the Copenhagen Infrastructure fund for around 153 million pounds ($250 million).

The six British wind farms in question, with an overall capacity of 273 megawatts, have an enterprise value of around 451 million pounds, Falck said in a statement.

Falck Renewables, controlled by the Falck Group, said it would keep a controlling stake in the UK operations.

As part of the deal, Falck said it would set up an investment partnership with Copenhagen Infrastructure, a fund sponsored by PensionDanmark, Denmark's largest labour market pension fund.

Under the agreement, the two companies will invest jointly in other European energy projects developed by the Italian renewables group.

The proposed investments include 100 million euros ($135.6 million) near-term in already authorised onshore wind projects and 125 million euros in other renewable projects.

At 0928 GMT shares in Falck Renewables were up 4.8 percent while the Italian all-share index was down 0.2 percent.

Falck Renewables has an installed capacity of 731 megawatts in Italy, France, Spain and the UK. It plans to invest around 420 million euros in the period 2013-2017 to take its overall capacity to 865 megawatts.