Statkraft buys 1 GW of wind, solar projects in Brazil and Ireland

The Roan wind park in Norway. Source: Twitter, @FosenVind

October 25 (Renewables Now) - In early October, Norwegian state-owned energy company Statkraft AS signed deals to acquire almost a gigawatt of solar and onshore wind projects in two strategic markets -- Ireland and Brazil.

The company said Thursday it has agreed to pay NOK 158 million (USD 17.3m/EUR 15.6m) for 326 MW of solar projects in the Republic of Ireland. More specifically, it is acquiring JBM Solar Developments Ltd. The upfront consideration paid stands at NOK 70 million, while the remainder is due when specific milestones are achieved by the solar business.

In Brazil, Statkraft is buying all of Ventos de Santa Eugenia Energias Renovaveis SA and Ventos de Sao Vitorino Energias Renovaveis SA, two companies with a wind project pipeline of 664 MW. The price agreed with the seller, Fundo de Investimento em Participacoes Multiestrategia in Brazil, amounts to NOK 296 million.

Statkraft said 420 MW of the acquired Brazilian projects are approaching investment decision.

In September, the company said it wanted to quadruple its installed renewable energy capacity in Brazil over the next five years. In the October 18 auction, Statkraft was awarded long-term power contracts for the Santa Eugenia and Serra de Mangabeira wind projects.

(NOK 10 = USD 1.1/EUR 0.99)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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