Norwegian renewable energy giant Statkraft has finalized its acquisition of Spanish renewables company Enerfin, marking a significant expansion of its global presence.
The agreement, initially inked on November 17, 2023, between Statkraft and Elecnor, parent company of Enerfin, has now culminated in the successful acquisition, positioning Statkraft as a key player in the Spanish and Brazilian renewable energy markets.
With the completion of the Enerfin deal, Statkraft adds a substantial 1.5GW portfolio of wind and solar power projects to its arsenal, comprising both operational assets and projects under construction. This strategic move aligns with Statkraft's ambition to reinforce its status as Europe's largest producer of renewable energy and to emerge as a leading international player in the renewable energy sector.
Birgitte Ringstad Vartdal, President and CEO of Statkraft, underscored the significance of the acquisition, stating, “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.”
Vartdal further emphasized the strategic fit of Enerfin's portfolio with Statkraft's existing assets and growth plans, highlighting the complementary nature of the acquisition.
The acquisition of Enerfin not only bolsters Statkraft's renewable energy portfolio but also brings aboard a skilled workforce, with approximately 170 new employees joining Statkraft, primarily in Spain and Brazil. Vartdal expressed a warm welcome to the new team members, acknowledging Enerfin's strong track record in renewable project development and operations.
Moreover, the acquisition presents lucrative opportunities for Statkraft, including wind farm repowering, hybridization, and battery storage initiatives. Additionally, it paves the way for expanded market operations in both Spain and Brazil.
In line with its strategic focus, Statkraft intends to divest Enerfin's portfolio in Canada, the US, Colombia, Australia, and Chile. Vartdal reiterated Statkraft's commitment to ensuring value preservation and the well-being of all stakeholders involved in the divestment process.
“We acknowledge the significant work done to develop the portfolios in these markets, and strongly believe in future opportunities for value creation,” Vartdal affirmed. “Statkraft will run a sales process focusing on value preservation and care for all people involved.”
