Statkraft to shed Enerfin projects in non-core markets - report

Statkraft AS is looking to offload some projects that are included in the portfolio in Spain’s Enerfin, which the Norwegian group is in the process of buying in a EUR-1.8-billion (USD 1.95bn) deal, Reuters reports.

The projects in question are located in four markets that are considered to be non-core for Statkraft’s business, namely Canada, the US, Colombia, and Australia, CEO Christian Rynning-Toennesen told the news agency. He has also explained that the assets will be offered in the open market, describing them as a large portfolio with “many good projects.”

The planned sale is due to be launched in March. The reason for the sale is Statkraft’s lack of financial or organisational capacity to handle projects in those specific countries.

Statkraft agreed to buy Enerfin, the renewables arm of Spanish infrastructure builder Elecnor SA, last November in a bid to strengthen its market operations in Spain and Brazil. The target’s portfolio includes 1,734 MW of wind and solar projects in operation and under construction in Spain and the Americas. The transaction was cleared by Elecnor's shareholders in January and is due to be completed in the second quarter.

(EUR 1.0 = USD 1.084)

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