Statkraft acquires Spanish renewable business

Enerfin is a subsidiary of Elecnor Group, a leading Spanish engineering and construction business. The transaction has an estimated enterprise value of €1.8 billion, including equity and debt, subject to customary adjustments at completion.

Enerfin's renewable energy platform includes 1.5 GW in operation and under construction, and a solid pipeline of projects at various stages of development.

“This is a milestone acquisition for Statkraft. Enerfin is a solid, well-run company with a highly competent organisation and an attractive portfolio that fits well with Statkraft’s current activities. The deal will create further value for the customers, our owner and society as it constitutes a major contribution to the green energy transition towards zero emissions”, said Christian Rynning-Tønnesen, CEO of Statkraft.

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.

The transaction is dependent on public approvals in the respective countries and is expected to be closed during the 1H24.

 

 

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