Norwegian renewable power producer Statkraft AS announced it has taken full ownership of its Brazilian subsidiary Statkraft Energias Renovaveis (SKER) which operates about 450 MW of installed wind and hydropower capacity in the country.
SKER is currently in the final stages of constructing the 519-MW Santa Eugenia Wind Complex in Bahia, northeastern Brazil. The site, which houses 14 wind farms, is expected to produce 2,300 GWh of electricity annually.
Statkraft’s Brazilian subsidiary controls 14 hydropower plants and four wind farms. The company is also investing around BRL 3.4 billion (USD 688m/EUR 642m) in 600 MW of wind power projects under construction. It recently bought 260 MW of operating assets and intends to continue growing its business through both greenfield projects and acquisitions.
Statkraft has become the sole owner of SKER after purchasing the remaining 18.69% stake in the unit from Brazilian pension fund Fundacao dos Economiarios Federais (Funcef), according to a statement released on Tuesday. Financial details were not provided.
The Nordic firm will soon see its Brazilian portfolio reach 1.3 GW of installed capacity, based on projects under construction and in operation, as well as pending acquisitions.