StockNews.AI
AY
StockNews.AI
18 days

Statkraft to sell Enerfín's activities in Canada to Atlantica Sustainable Infrastructure

1. Statkraft sells its Canadian renewables portfolio to Atlantica Sustainable Infrastructure. 2. The deal includes experienced staff and a renewable energy development portfolio. 3. Closing of the transaction is expected before the end of 2025. 4. Statkraft aims to focus on core markets after this divestment. 5. Previous acquisitions have strengthened Statkraft's position in other international markets.

4m saved
Insight
Article

FAQ

Why Bullish?

The divestment allows Statkraft to concentrate on core markets, potentially increasing strategic efficiency. Historically, focused portfolios lead to stronger market positioning, as seen in other corporate divestitures.

How important is it?

The article impacts Statkraft's strategy, potentially affecting AY due to market repositioning. Strategic divestments often result in stock revaluations as investors reassess future potentials.

Why Long Term?

As Statkraft refocuses its business strategy, long-term growth should follow. Similar cases, like GE's divestment from non-core assets, resulted in enhanced profitability over time.

Related Companies

STATKRAFTATLANTICA
(Montreal, Canada/Oslo, Norway) – Statkraft has signed an agreement to sell Enerfín Canada, its renewables portfolio in Canada, to Atlantica Sustainable Infrastructure Ltd. The transaction includes the team, operating wind farms and a development portfolio. “I am happy to announce that we have agreed to sell our renewables portfolio in Canada to Atlantica Sustainable Infrastructure, who will be able to grow this business further. The deal confirms that Enerfín built a skilled team and attractive portfolio in Canada. We are looking forward to watching the business grow under new ownership,” says Barbara Flesche, Executive Vice President at Statkraft.  Enerfín Canada is based in Montreal, Québec, with offices in Calgary, Alberta; Montreal and Saint-Ferdinand, Québec. The transaction includes the experienced staff, two operating wind farms totalling 236 MW installed capacity, and a 0.8 GW portfolio of six wind and solar projects under development. Closing is expected before the end of 2025. The parties have agreed not to disclose further details about the transactions. The final Enerfín portfolio saleStatkraft acquired its Canadian renewables portfolio as part of the Enerfín transaction that was signed in November 2023 and completed in May 2024. The deal significantly strengthened Statkraft’s position in Spain and Brazil, placing Statkraft among the top 10 wind power producers in both countries. The acquisition added a portfolio of 1.5 GW of wind and solar power projects in operation and under construction, as well as a pipeline of projects under development. “I am pleased that we by signing this deal have successfully agreed to sell the last of the planned divestments of our Enerfín portfolio in countries outside Statkraft’s core markets. We have worked on the sales processes since the completion of the Enerfín acquisition, and they have been delayed by increased global uncertainty,” says Barbara Flesche.   For further information, please contact: Media:Head of Norway Media Relations, Andreas Olsen Tinglum, tel: +47 93 00 17 73, e-mail: andreas.tinglum@statkraft.comVP External Communications Torbjørn Steen, tel: +47 911 66 888, e-mail: ts@statkraft.com or www.statkraft.com About Statkraft Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has around 7,000 employees in more than 20 countries.

Related News