Norwegian state-owned energy company Statkraft has acquired 39 onshore wind farms across Germany and four in France from Breeze Three Energy.
The deal marks Statkraft ‘s entry into both countries’ renewable energy markets.
The financial terms of the transaction have not been disclosed.
Statkraft European Wind and Solar executive vice-president Birgitte Ringstad Vartdal said: “Statkraft has an ambition to grow further within hydropower, wind and solar power.
“We aim to be a major wind and solar developer with a development rate of 2.5GW to 3GW per year towards 2025.
“Today’s acquisition further strengthens our role as a key renewables player in Europe and gives us the ability to further grow our portfolio in Germany and France.
“With our solid experience in developing, managing, operating and marketing renewable assets, Statkraft is the right owner of the acquired wind farms to continue optimising operations and to bring part of the portfolio into lifetime extension.”
The German wind portfolio has a total installed capacity of 311MW and covers an area from Bavaria to Schleswig-Holstein.
It features 187 turbines that generate around 463GWh of clean energy a year.
Statkraft said that it will ensure all contractual commitments associated with these wind farms are fulfilled and aim to pursue partnerships with all their stakeholders.
The four onshore wind facilities in France have a total installed capacity of 35MW and are located across Nouvelle-Aquitaine, Pays de la Loire and Normandy.
Last November, Statkraft established itself in the European solar market by acquiring UK-based solar panel manufacturer Solarcentury.
The company recently agreed to sell a solar project portfolio in southern Spain to London-listed investor The Renewables Infrastructure Group (TRIG) for an undisclosed sum.
Statkraft will continue to be responsible for building the four solar parks, which will be co-located in Cadiz and have a total capacity of 234MWp.