Statkraft buys Spanish energy company for NOK 21 billion: – This is a major milestone

On Friday evening, Statkraft announces that it has entered into an agreement to buy Enerfin, a renewables company belonging to the Spanish engineering and contracting company Elecnor Groups.

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

– This is a major milestone for Statkraft. Enerfin is a solid, well-run company with a highly competent organization and an attractive portfolio that fits very well with Statkraft’s current activities, says Statkraft’s CEO Christian Rynning-Tønnesen in a press release.

– The agreement will create value for our owner and the customers, and is a significant contribution to the green shift and the zero emissions target, he adds.

Becomes the top three largest in Brazil

The acquisition makes Statkraft one of the ten largest players in wind power in Spain, and among the three largest in Brazil. In addition, Enerfin owns a wind farm in Quebec in Canada, which Statkraft is now taking over.

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

Statkraft states that Enerfin’s portfolio also includes great opportunities for upgrading and extending the life of wind farms, as well as hybrid and battery storage solutions. The purchase also makes increased market activities possible, i.e. the purchase and sale of power and power contracts, according to Statkraft.

Completed during the next six months

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

Statkraft has earned over NOK 40 billion after tax in the last two financial years, and has carried out several transactions so far this year. This summer it became known, among other things, that the company has bought 39 wind farms in Germany and France for NOK 4.7 billion, an acquisition that made the company one of the ten largest players in wind power in Germany.(Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using links, which lead directly to our pages. Copying or other forms of use of all or part of the content may only take place with written permission or as permitted by law. For further terms see here.