Statkraft to boost global wind and solar portfolio with gigawatt-scale deal

Norwegian state-owned utility Statkraft has agreed to acquire Spanish renewable energy company Enerfin, which owns a 1.5GW portfolio of wind and solar projects that are either operational or “very nearly so”.

The transaction – which still requires public approvals in Brazil and Spain – indicates an estimated enterprise value for Enerfin of €1.8 billion, including equity and debt, Statkraft stated.

The vast majority of Enerfin’s 1.5GW portfolio is wind, a Statkraft spokeswoman told Windpower Monthly. It includes projects that are either operational or “very nearly so” in Brazil (630MW total), Canada (100MW), Colombia (130MW), and Spain (550MW), plus a number of smaller projects under construction in Spain and Brazil, she added.

Statkraft stated that the deal will help it boost its market operations in Brazil and Spain, and offers “significant opportunities” for repowering wind farms, developing hybrid projects and adding battery storage.

It expects the transaction to close in the first half of 2024.