Statkraft has acquired a wind power portfolio from Breeze Two Energy in Germany and France, totalling 337MW and comprising 39 wind farms.
The German sites consist of 35 wind farms (165 turbines) with an installed capacity of 310MW, doubling the amount of wind capacity the company owns in the country.
In France, the Norwegian outfit snapped up four wind farms (20 turbines) with an installed capacity of 27MW, again nearly doubling its wind power capacity in the nation.
The purchase price for the portfolio was Nkr4.7bn (€406m).
Statkraft intends to repower the portfolio, eventually replacing the old turbines with new, more efficient models.
The move to add to the existing portfolio in both countries is part of the company’s ambition to accelerate its growth rate in wind, solar, and battery storage in its established markets to reach an annual development rate of 4GW by 2030.
The wind farms that are part of this acquisition are in very windy locations.
Since their construction 15 to 21 years ago, turbine technology has significantly progressed, and most of the sites have a large repowering potential said Statkraft.
“We’re excited by the opportunity to use our considerable experience to extend the lifetime of these wind farms,” said executive vice president Europe at Statkraft Barbara Flesche.
“Replacing old turbines with new, more efficient ones can double the energy output of the sites, contributing to the energy transition in Europe.”
The company’s generation business, which includes its renewable energy plants, posted Nkr10.2bn in second quarter 2023, down on the Nkr13.2bn posted in the same period 2022.
European power prices fell further in the second quarter and are down around 50% compared to the same quarter last year.
Net operating revenues from generation decreased, mainly driven by lower power prices and lower hydropower generation in the Nordics segment.