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					</table><p>Norway-based renewable energy company <a href="https://www.statkraft.in/" target="_blank" rel="noopener">Statkraft</a> has completed the acquisition of <a href="https://www.enerfin.es/enerfin-en" target="_blank" rel="noopener">Enerfin</a>, a Spain-based renewables business and subsidiary of <a href="https://www.elecnor.com/home-en" target="_blank" rel="noopener">Elecnor Group</a>, in a transaction valued at €1.8 billion (~$1.97 billion), encompassing equity and debt.</p>
<p>The transaction, contingent on public approvals in respective countries, is slated for closure in the first half of 2024.</p>
<p>Enerfin&#8217;s assets include 1.5 GW of operational and under-construction wind and solar capacity, along with an expansive pipeline of projects at various developmental stages.</p>
<p>The acquisition unlocks opportunities for wind farm repowering, hybridization, and battery storage while complementing Statkraft’s solar portfolio.</p>
<p>Statkraft said the acquisition strengthens its footprint in Spain and Brazil.</p>
<p>“This is a milestone acquisition for Statkraft. Enerfin is a solid, well-run company with a highly competent organization and an attractive portfolio that fits well with Statkraft’s current activities. The deal will create further value for the customers, our owner, and society as it constitutes a major contribution to the green energy transition towards zero emissions,” said Christian Rynning-Tønnesen, CEO of Statkraft.</p>
<p>In the third quarter of 2023, Statkraft reported net operating revenues of NOK10.6 billion (~$985.16 million), a decline from NOK13.2 billion (~$1.28 billion) in the comparable quarter of 2022, attributed to an 84% decrease in Nordic power prices. Despite this, the company signed long-term contracts, maintained a profit after tax of NOK4.4 billion (~$409.12 million), and acquired renewable energy projects, including two early-stage Swedish wind projects in October, with a substantial onshore and offshore wind portfolio.</p>
<p>In September, Statkraft <a href="https://www.mercomindia.com/statkraft-expands-39-wind-farms-in-europe" target="_blank" rel="noopener">acquired</a> 39 wind farms from Breeze Two Energy for NOK4.7 billion (~$443.2 million), doubling its wind capacity in Germany and nearly in France. The strategic acquisition, encompassing 337 MW of capacity, focuses on wind farms located in Germany and France.</p>
<p>Last year, Statkraft <a href="https://www.mercomindia.com/statkraft-55-mw-open-access-solar-tamil-nadu" target="_blank" rel="noopener">commissioned</a> its 55 MW Nellai solar project in Tamil Nadu, India, set to generate 120 GWh of power annually.</p>


Statkraft Acquires Renewables Company Enerfin for $2 Billion

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