Statkraft has purchased the remaining shares in its Brazilian subsidiary Statkraft Energias Renováveis (SKER) from Fundação dos Economiários Federais (Funcef), the third largest pension fund in Brazil.
With the acquisition of the 18.69% interest, 100% of SKER is now owned by the Statkraft Group.
Ingeborg Dårflot, executive vice president international at Statkraft, said: “With this acquisition, we will be able to bring even more agility to our strategic plan by increasing our ownership in Brazil.
“I would also like to thank Funcef for the long successful partnership we had along this journey together.”
The company has been present in Brazil since 2009, headquartered in Florianópolis, Santa Catarina (SC).
Currently, it controls 14 hydro power plants and 4 wind farms in the country, with approximately 450MW of installed capacity in operation.
SKER is also executing on an ambitious growth strategy, investing around BRL3.4bn (€.064bn) in 600MW of wind power under construction, and recently acquired 260MW of operating assets.
It is looking forward to continued growth through both greenfield construction as well as acquisitions.
SKER is in the final stages of constructing the Santa Eugênia Wind Complex, located in Bahia, the Northeast region of the country.
The renewable energy production of the complex is expected to reach 2,300GWh per year, enough to power 1.17 million Brazilian households.
The complex will comprise 14 wind farms, totaling 91 wind turbines with a capacity of 5.7MW each.
In the state of Bahia, Statkraft is also constructing the greenfield wind project Morro do Cruzeiro, an expansion of the operational Brotas de Macaúbas Wind Complex.
The expansion consists of 14 turbines with an installed capacity of 79.8MW.