Statkraft buys the Spanish energy company for NOK 21 billion: – This is a huge achievement

Statkraft announced on Friday evening that it has entered into an agreement to acquire Enerfin, a renewable energy company affiliated with the Spanish engineering and contracting company Elecnor Groups.

The price corresponds to a company value of 1.8 billion euros – or 21 billion Norwegian kroner.

– This is a major milestone for Statkraft. Enerfin is a strong, well-managed company with a highly efficient organization and an attractive portfolio that fits well with Statkraft’s existing activities, says Statkraft CEO Christian Rehning-Teunissen in a press release.

He adds: – The agreement will create value for our owner and our customers, and will constitute a significant contribution to the green transition and the goal of zero emissions.

It becomes the top three in Brazil

This acquisition makes Statkraft one of the ten largest wind energy companies in Spain, and among the three largest in Brazil. In addition, Enerfin owns a wind farm in Quebec, Canada, which is now managed by Statkraft.

Statkraft is today the largest power producer in Europe, and the acquisition increases Statkraft’s power production portfolio within installed wind and wind and solar power under development by 1,500 MW.

Statkraft notes that Enerfin’s portfolio also includes significant opportunities to upgrade and extend the life of wind farms, as well as hybrid and battery storage solutions. The purchase also makes possible increased market activities, i.e. buying and selling of energy and energy contracts, according to Statkraft.

It will be completed within the next six months

The purchase price includes debt and equity, and Statkraft states that completion of the purchase is subject to “normal reservations,” such as approval by authorities in the countries involved. Statkraft expects the acquisition to be completed during the first half of 2024.

Statkraft has earned more than NOK 40 billion after tax in the last two financial years, and has executed numerous transactions so far this year. This summer it became known, among other things, that the company bought 39 wind farms in Germany and France for NOK 4.7 billion, an acquisition that made the company one of the ten largest wind energy players in Germany.(conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using links that lead directly to our pages. No copying or other use of all or part of the Content may be permitted except with written permission or as permitted by law. For more terms see here.