Statkraft Divests Enerfín's Canadian Operations to Atlantica

Statkraft Completes Sale of Enerfín's Canadian Business

Statkraft has made a significant strategic move by signing an agreement to sell Enerfín Canada, their renewables portfolio in the country, to Atlantica Sustainable Infrastructure Ltd. This transaction encompasses the dedicated team, operational wind farms, and a development portfolio, affirming Statkraft's commitment to aligning its operations with its core markets.

Strategic Growth and Future Potential

Barbara Flesche, Executive Vice President at Statkraft, expressed her enthusiasm about the deal, stating, “I am happy to announce that we have agreed to sell our renewables portfolio in Canada to Atlantica Sustainable Infrastructure, who will be able to grow this business further. The deal confirms that Enerfín built a skilled team and attractive portfolio in Canada. We are looking forward to watching the business grow under new ownership.”

Operational Details of the Transaction

Located in Montreal, Enerfín Canada has been an integral part of Statkraft's operations, maintaining offices in Calgary, Alberta, and other locations in Quebec. Under the transaction, not only will Atlantica gain experienced staff, but they will also take over two operating wind farms, which have a total installed capacity of 236 MW. Additionally, they will acquire a promising portfolio featuring six wind and solar projects that are currently under development, boasting an aggregate capacity of 0.8 GW.

Impact of the Sale on Statkraft's Portfolio

The anticipated closing of this transaction is projected for before the end of 2025. While specific financial details remain undisclosed, this divestment represents a pivotal moment for Statkraft as they focus on consolidating their operations and resources within their primary markets.

Background of Enerfín’s Acquisition

The history of Enerfín's journey with Statkraft began with the acquisition in 2023, when Statkraft expanded its renewable energy footprint significantly as part of a larger transaction completed in mid-2024. This earlier deal established Statkraft as a key player in the renewable sector, particularly within Spain and Brazil, reinforcing their position as one of the top 10 wind power producers in these regions. The acquisition not only contributed 1.5 GW of operational and in-construction projects but also included a pipeline of future developments.

Future Outlook and Market Conditions

Flesche reiterated the completion of this transaction as a noteworthy end to planned divestments outside of Statkraft’s core areas. “I am pleased that by signing this deal we have successfully agreed to sell the last of the planned divestments of our Enerfín portfolio in countries outside Statkraft’s core markets. We have worked on the sales processes since the completion of the Enerfín acquisition, and they have been delayed by increased global uncertainty,” she remarked.

The Global Energy Landscape

Statkraft's commitment to renewable energy remains steadfast as they continue to adapt to the ever-evolving landscape of the energy market. As Europe’s largest generator of renewable energy, Statkraft is dedicated to the production of hydropower, wind, solar, and gas-fired power while also contributing to district heating. With a workforce of around 7,000 employees operating across more than 20 countries, the company is well-positioned to navigate the challenges and opportunities within the global energy sector.

Contact Information for Media Inquiries

For further information, please reach out to:

Media Contact:
Head of Norway Media Relations, Andreas Olsen Tinglum, phone: +47 93 00 17 73, email: andreas.tinglum@statkraft.com
VP External Communications Torbjørn Steen, phone: +47 911 66 888, email: ts@statkraft.com

More information can be found at the company website: www.statkraft.com

Frequently Asked Questions

What does the sale of Enerfín Canada involve?

The sale involves Statkraft transferring its renewables portfolio in Canada, including operating wind farms and development projects to Atlantica Sustainable Infrastructure.

When is the expected closing date for the transaction?

The transaction is expected to close before the end of 2025.

What is the significance of this sale for Statkraft?

This sale allows Statkraft to refocus its resources on core regional markets and provide Atlantica with an opportunity to expand the business further.

How does Statkraft's acquisition of Enerfín relate to their current strategy?

The acquisition previously enhanced Statkraft's position as a major renewable energy producer, especially in Spain and Brazil, and the divestment aligns with their strategic focus.

How many staff members are being transferred in the sale?

The sale includes the experienced staff from Enerfín Canada, ensuring continuity in operations post-transaction.

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