Statkraft concludes Enerfin transaction

Statkraft has completed the acquisition of the renewable company Enerfin, headquartered in Spain.

On 17 November 2023, Statkraft signed an agreement with the Spanish company Elecnor to acquire its renewables subsidiary Enerfin. The transaction has now been completed.  

The closing of the Enerfin deal significantly builds scale and strengthens Statkraft’s position in Spain and Brazil. The transaction adds a portfolio of 1.5 GW of wind and solar power projects in operation and under construction, as well as a pipeline of projects under development. 

– 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. It places us among the top 10 wind power producers both in Spain and Brazil, which are key markets for Statkraft. The portfolio is a very good strategic fit with our current portfolio and future growth plans, says Birgitte Ringstad Vartdal, President and CEO of Statkraft. 

The attractive portfolio and highly competent Enerfin team fits well with Statkraft’s current activities, adding 170 new employees to Statkraft, mainly in Spain and Brazil.  
 
– I warmly welcome all new employees to Statkraft. The Enerfin organisation has a strong track record in project development and operations of renewables. This will add great value to our organisation, Vartdal says.  

The portfolio comes with significant opportunities for the repowering of wind farms, as well as hybridisation and battery storage possibilities. In addition, the acquisition enables increased market operations in both Spain and Brazil. 
 
As announced earlier, Statkraft plans to divest the Enerfin portfolio in Canada, the US, Colombia, Australia, and Chile.

– We acknowledge the significant work done to develop the portfolios in these markets, and strongly believe in future opportunities for value creation. Statkraft are committed to finding new owners who can further create value by developing the business in these countries. Statkraft will run a sales process focusing on value preservation and care for all people involved, says Vartdal.