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Statkraft negotiating 2.3-GW wind buy from Element Power - report

Wind turbines. Photo by: Element Power (www.elpower.com).

October 1 (Renewables Now) - Norwegian state-owned utility Statkraft AS is holding exclusive talks to acquire Element Power’s 2.3-GW portfolio of wind projects, according to media reports.

Statkraft is negotiating the acquisition of 1.7 GW of projects in Ireland, as well as assets in the UK, Sweden and Finland, plus Element Power's interest in a 500-MW offshore wind project, the Irish Independent reports, citing an article by industry publication SparkSpread.

Torbjorn Steen, Vice President Communications, European Wind and Solar at Statkraft, has confirmed for The Sunday Times that the company is discussing a transaction with Element Power, without giving more details.

According to SparkSpread, the portfolio in question includes 782 MW of schemes in late or advanced development and 153 MW of projects at pre-financial close. It also reports that Element Power has 150 MW of grid services projects and a business that manages 285 MW of assets for third-parties.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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