Statkfrat will acquire the English Solacentury for 117.7 million pounds

In the past few days, a great news arrived from the world of renewable energy. 

Statkraft announced its intention to acquire Solarcentury. But let’s know these two protagonists better: Statkraft is a company founded in Oslo in 1895, it is the largest European producer of renewable energy, especially in the field of hydroelectric and wind power and is completely managed by the Norwegian Ministry of Trade, Industry and Fisheries. It owns more than 350 systems in 17 countries. On the other hand, there is Solarcentury, an English multinational company operating in the solar energy sector since 1998, which created the world’s first solar bridge in London. 

The value of this acquisition reaches 117.7 million pounds, with this “union” Statkraft would have access to a 6 GW pipeline in South America and Europe. 

The CEO of the Norwegian company, Christian Rynning-Tønnesen, said: “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. Just like hydropower and solar power complement each other, Statkraft and Solarcentury are an excellent fit in terms of purpose and people. Joining forces will accelerate our growth and continue to drive the energy transition forward”. 

The company also said that it will strive to reach the goal of developing 8 GW of solar and wind capacity by 2025. By 2030, instead, the goal is to invest 750 million euros in Italy. 

Solarcentury CEO Frans Van Den Heuvel expressed his thoughts: “Solarcentury has grown entirely organically since 2007 into a highly profitable business. To continue to grow at the pace that is possible given the market we’re operating in, we will benefit from a larger balance sheet and this has resulted in us seeking new ownership. Statkraft is the perfect match for us given their ambition to invest in and grow their solar portfolio”. 

Unexpected events aside and with all the approvals, the new acquisition is expected to be completed by the end of this year; Statkraft will thus become a giant in photovoltaics as well.