Statkraft has completed the acquisition of the Spanish renewables company Enerfin.
On 17 November 2023, Statkraft signed an agreement with Elecnor to acquire its renewables subsidiary Enerfin and the transaction has now been completed.
The closing of the Enerfin deal builds scale and strengthens Statkraft’s position in Spain and Brazil.
The transaction adds a portfolio of 1.5GW of wind and solar power projects in operation and under construction, as well as a pipeline of projects under development.
“This acquisition is a big leap for Statkraft and confirms our position as Europe’s largest producer of renewable energy and aim to become a leading renewable company internationally,” said Statkraft president and chief executive Birgitte Ringstad Vartdal (pictured).
She added: “It places us among the top 10 wind power producers both in Spain and Brazil, which are key markets for Statkraft.
“The portfolio is a very good strategic fit with our current portfolio and future growth plans.”
The “attractive portfolio and highly competent Enerfin team” fits well with Statkraft’s current activities, adding 170 new employees to Statkraft, mainly in Spain and Brazil, she said.
Vartdal added: “I warmly welcome all new employees to Statkraft. The Enerfin organisation has a strong track record in project development and operations of renewables.
“This will add great value to our organisation.”
The portfolio comes with “significant opportunities” for the repowering of wind farms, as well as hybridisation and battery storage possibilities.
In addition, the acquisition enables increased market operations in both Spain and Brazil.
As announced earlier, Statkraft plans to divest the Enerfin portfolio in Canada, the US, Colombia, Australia and Chile.
Vartdal said: “We acknowledge the significant work done to develop the portfolios in these markets, and strongly believe in future opportunities for value creation.
“Statkraft are committed to finding new owners who can further create value by developing the business in these countries.
“Statkraft will run a sales process focusing on value preservation and care for all people involved.”