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Statkraft multiplies solar energy capacity by acquiring British Solarcentury. The Norwegian energy giant is pocketing NOK 1.45 billion for the company.
Statkraft is investing much of this year’s investment framework in the acquisition of solar energy company Solarcentury. Here from Budel Solar Park in the Netherlands.
Solarcentry
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– It’s a great day for us to do it, Christian Rynning-Tønnesen, CEO of Statkraft, tells E24.
Statkraft has always had its eyes on expanding into solar energy, where Statkraft currently has only three plants.
– The process has taken a long time. We have been looking for a solar energy company to buy for two years and have been through many companies.
Managing Director Christian Rynning-Tønnesen at Statkraft.
Statkraft
Eventually Rynning-Tønnesen and Statkraft landed on British solar energy developer Solarcentury.
– We want to be among the world’s leading renewable energy companies. We have a lot of hydroelectric and wind power today, but limited with solar power. This is an opportunity to greatly expand our solar power capacity, he says.
– Perfect partner for us
Solarcentury has a 6 GW project portfolio in countries such as Spain, the Netherlands, the United Kingdom, France, Greece, Italy and Chile. So far, the company has developed 40 large-scale plants for solar energy.
– Solarcentury has grown organically since 2007 and is now a very profitable business. To continue to grow as fast as possible in this market, we need greater financial power, says Solarcentury CEO Frans van den Heuvel in a press release.
– That is the reason why we have been looking for new owners. Statkraft has the ambition to invest and expand its solar energy portfolio. That makes the company a perfect partner for us, he says.
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By 2035, Statkraft expects solar energy to be the world’s largest energy source, and by 2050, the company believes that solar energy will account for 38 percent of global energy production.
– We want to be part of that journey, says Rynning-Tønnesen.
– Huge growth in solar power awaits us, and solar power is just one part of a large-scale energy transition. For us, the acquisition is an important step forward, he says.
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Statkraft has an investment ambition of NOK 10 billion per year. The company buys Solarcentury for 117.7 million pounds, about 1.45 billion crowns.
– It is a price we are happy with. We would not have done this without being satisfied, and Solarcentry would not have sold if they were not satisfied with the price, says the CEO of Statkraft.
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