Statkraft acquires Spanish renewables firm

Statkraft has acquired Spanish renewables company Enerfin.

This purchase incorporates 1500 MW of operational wind power, along with wind and solar capacity presently under construction, and a substantial pipeline of projects in development, into the Statkraft portfolio. Enerfin, a subsidiary of Elecnor Group, a prominent Spanish engineering and construction company, is the entity being acquired. The estimated enterprise value of this transaction, encompassing equity and debt, is EUR 1.8 billion (USD 1.9 Billion). The portfolio presents notable opportunities for the repowering of wind farms, as well as possibilities for hybridization and battery storage. Additionally, this acquisition facilitates expanded market operations in both Spain and Brazil. Statkraft will emerge as one of the three major wind power producers in Brazil, boasting over 1.5 GW of installed capacity and an expanding operational scale. The anticipated closure of this transaction is set for the first half of 2024.