Statkraft Purchases Enerfin, a Renewable Energy Business Based in Spain, from Elecnor Group

Statkraft, renowned as Europe’s largest renewable energy generator and a global player in energy market operations, has finalized an agreement to acquire Enerfin, a prominent Spanish renewable energy company. The acquisition, valued at an estimated enterprise value of 1.8 billion EUR, including equity and debt, is subject to customary adjustments upon completion.

Enerfin, a subsidiary of Elecnor Group, a leading Spanish engineering and construction business, boasts a robust renewable energy platform encompassing 1.5 GW in operational and under-construction capacity, alongside a promising pipeline of projects at various development stages.

Christian Rynning-Tønnesen, CEO of Statkraft, hailed the acquisition as a significant milestone for the company. He highlighted Enerfin’s solid organizational structure, an appealing portfolio aligned with Statkraft’s current endeavors, and its potential to further the green energy transition towards zero emissions.

The newly acquired portfolio offers substantial prospects for wind farm repowering, hybridization, and battery storage initiatives. Moreover, the acquisition is poised to expand Statkraft’s market operations in Spain and Brazil.

Rynning-Tønnesen emphasized the strategic impact of the acquisition, positioning Statkraft among Europe’s largest renewable energy producers and solidifying its presence as a top-ten wind power producer in Spain. The move will complement Statkraft’s existing solar projects in Spain while propelling the company among Brazil’s top three wind power producers, boasting over 1.5 GW of installed capacity.

Pending public approvals in respective countries, the transaction is anticipated to conclude in the first half of 2024. Enerfin, comprising approximately 170 skilled employees primarily based in Madrid, will integrate into Statkraft, aligning with the company’s vision to revolutionize global power generation