Norwegian energy company Statkraft is seeking buyers for its projects across four non-core markets, Reuters has reported.

The assets are part of the acquisition of Spanish company Enerfin, which Statkraft purchased from the Elecnor Group for €1.8bn ($1.94bn) in November 2023. The assets are located in the US, Canada, Colombia and Australia.

Statkraft CEO Christian Rynning-Toennesen stated: “When it comes to Enerfin, we will divest four countries in the portfolio there: Canada, the US, Columbia and Australia.”

“It is just that we don’t have the financial or organisational capacity to take on these four countries.”

The Enerfin deal’s closure will take place in the second quarter of 2024.

The acquisition was a strategic step for the company to bolster its portfolio with additional wind and solar capacity.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The deal boosted Statkraft’s position as a key international renewable energy provider, particularly in Spain and Brazil.

The assets set for sale in the open market are diverse and extensive. They include 467MW of wind and solar assets, mainly in Canada and Colombia. Some are already operational while others are under construction and ready for development.

Statkraft indicated that the projects are part of a larger portfolio available to interested parties, with Rynning-Toennesen emphasising their quality across all four countries.

Statkraft is also preparing to offer a substantial pipeline of wind and solar development projects with a total output capacity of 5GW across the four countries.

The sales process will commence in March 2024, with financial advisor Rothschild enlisted to guide the proceedings.

Statkraft’s strategic focus remains on its core markets, which include Europe, India and select South American countries: Chile, Peru and, notably, Brazil.

In January 2024, the company announced its intention to invest €6bn in its hydro and wind power facilities in Norway.

The plan includes a budget of between €1.8bn and €3bn for the refurbishment and transformation of Norwegian hydroelectric plants, and an additional €1.2bn–2bn for dam rehabilitation and the modernisation of older hydropower stations.

The projects are expected to take place between 2024 and 2030, with upgrades planned for the Mauranger, Aura, Alta and Svean plants.