Norwegian utility Statkraft has acquired the entire shareholding of UK onshore wind developer Airvolution Clean Energy.
Statkraft said the acquisition is in line with its ambitions to deploy 600MW of onshore wind and solar generation in the UK by 2025, with a further 600MW in development.
Airvolution has been working exclusively on behalf of Statkraft since October 2017 to identify and bring forward onshore wind opportunities in Scotland.
Statkraft said the acquisition would see the Airvolution team moving in-house as part of the Norwegian company’s growing UK workforce.
Airvolution’s Glasgow office will be retained by Statkraft and is expected to double in size “soon” with new recruits starting in September.
“Our ambitions for the UK are a core part of Statkraft’s growth strategy and our plans to increase our portfolio of wind power assets to 6GW and our portfolio of solar power assets to 2GW globally by 2025,” said Statkraft executive VP Steinar Bysveen.
“The acquisition of an organisation which has a strong track record across site selection, development, and construction is an important milestone towards achieving this.”
Airvolution chief executive Richard Mardon added: “The UK policy changes of 2015 resulted in great uncertainty in the sector, and I’m proud that with an enormous amount of hard work and determination we have been able to adapt and continue to deliver quality projects.”