Statkraft to acquire Solarcentury

Norwegian state-owned electricity supplier Statkraft has signed an agreement to acquire the British solar developer Solarcentury. Statkraft will gain access to a 6 GW pipeline in Europe and South America »that combined with Statkraft’s current project portfolio immediately positions the company as a leading developer in the European solar market,« according to an announcement. Solarcentury’s project pipeline includes Spain, the Netherlands, the UK, France, Greece, Italy and Chile.
The transaction is an acquisition of 100 percent of the shares in Solarcentury Holdings and its subsidiaries. The main shareholders were previously Scottish Equity Partners, VantagePoint Capital Partners, Zouk Capital, and Grupo Ecos. The purchase price is £117.7 million ($155 million) and includes net cash. The transaction is expected to be completed by the end of 2020.
»This acquisition is in line with our strategy to ramp up as a wind and solar developer and become one of the leading renewable energy companies globally,« says Christian Rynning-Tønnesen, CEO of Statkraft. The company has a target to develop at least 8 GW of wind and solar by 2025.
Solarcentury is headquartered in London, UK with around 180 people across 12 countries. Since the company changed their strategic approach in 2013 it has developed 40 utility-scale projects totaling ca 1,200 MW across 7 countries. Statkraft is a global company in energy market operations. Statkraft has 4,000 employees in 17 countries.

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