Statkraft to acquire Spanish renewable energy company Enerfin

Statkraft is all set to acquire the Spanish renewable energy company Enerfin. The duo has already reached an agreement for the acquisition.

As per local reports, the transaction has an estimated enterprise value of €1.8 billion. It includes equity and debt, which is subject to customary adjustments at completion.

To be noted, Enerfin is a subsidiary of Elecnor Group, a leading Spanish engineering and construction business. Its renewable energy portfolio includes 1.5 GW which includes projects in operation, under construction, and 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”, Christian Rynning-Tønnesen, CEO of Statkraft, was quoted in a statement.

The company shared that the portfolio could lead to many opportunities for the repowering of wind farms, and hybridisation and battery storage possibilities.

Besides, the acquisition also enables increased market operations for the company in both Spain and Brazil.