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Renewables leader Statkraft boosts solar capability with the acquisition of Solarcentury

Statkraft AS
·4-min read

Infographic Statkraft+Solarcentury

Infographic Statkraft+Solarcentury
Infographic Statkraft+Solarcentury
Infographic Statkraft+Solarcentury

Christian Rynning-Tønnesen

CEO of Statkraft, Christian Rynning-Tønnesen
CEO of Statkraft, Christian Rynning-Tønnesen
CEO of Statkraft, Christian Rynning-Tønnesen

Frans van den Heuvele

CEO of Solarcentury, Frans van den Heuvele
CEO of Solarcentury, Frans van den Heuvele
CEO of Solarcentury, Frans van den Heuvele

Blackfriars Bridge London, UK, drone

Blackfriar Bridge, London, UK, 1.1 MWp. The 4,400 photovoltaic panels cover the roof of the station and produce enough energy to make almost 80,000 cups of tea a day. In fact, London’s longest array provides up to half of the station’s energy, reducing its CO2 emissions by an estimated 511 tonnes per year. The design and installation of the 6000m2 of PV panels was carried out by Solarcentury.
Blackfriar Bridge, London, UK, 1.1 MWp. The 4,400 photovoltaic panels cover the roof of the station and produce enough energy to make almost 80,000 cups of tea a day. In fact, London’s longest array provides up to half of the station’s energy, reducing its CO2 emissions by an estimated 511 tonnes per year. The design and installation of the 6000m2 of PV panels was carried out by Solarcentury.
Blackfriar Bridge, London, UK, 1.1 MWp. The 4,400 photovoltaic panels cover the roof of the station and produce enough energy to make almost 80,000 cups of tea a day. In fact, London’s longest array provides up to half of the station’s energy, reducing its CO2 emissions by an estimated 511 tonnes per year. The design and installation of the 6000m2 of PV panels was carried out by Solarcentury.

Calvörde solar park, Germany

The 4.7 MWp Calvörde solar park, located in the state of Sachsen-Anhalt. The project was completed in December 2015, developed and built by Solarcentury.
The 4.7 MWp Calvörde solar park, located in the state of Sachsen-Anhalt. The project was completed in December 2015, developed and built by Solarcentury.
The 4.7 MWp Calvörde solar park, located in the state of Sachsen-Anhalt. The project was completed in December 2015, developed and built by Solarcentury.

Talayuela solar park, Spain

Talayuela solar park in Spain, 300 MWp. A true utility-scale project, covering 820 hectares, built entirely without subsidies.Solarcentury has developed the site, is building it, and will provide O&M and asset management services.
Talayuela solar park in Spain, 300 MWp. A true utility-scale project, covering 820 hectares, built entirely without subsidies.Solarcentury has developed the site, is building it, and will provide O&M and asset management services.
Talayuela solar park in Spain, 300 MWp. A true utility-scale project, covering 820 hectares, built entirely without subsidies.Solarcentury has developed the site, is building it, and will provide O&M and asset management services.

(London/Oslo, 2 November 2020) Statkraft, Europe’s largest producer of renewable energy, has signed an agreement to acquire the solar pioneer Solarcentury. Together the companies are well positioned for accelerated growth in solar and to become one of the world’s leading renewable energy companies.

Statkraft will gain access to a 6 GW pipeline (gross) in Europe and South America that combined with Statkraft’s current project portfolio immediately positions the company as a leading developer in the European solar market. Solarcentury’s project pipeline spans many high-growth markets including Spain, the Netherlands, the UK, France, Greece, Italy and Chile.

The transaction is an acquisition of 100 per cent of the shares in Solarcentury Holdings and its subsidiaries. The main shareholders were previously Scottish Equity Partners, VantagePoint Capital Partners, Zouk Capital, and Grupo Ecos. The purchase price is 117.7 MGBP and includes net cash.

Solarcentury’s geographical footprint is well aligned with Statkraft’s existing development portfolio and market operations. As a global leader in energy market operations Statkraft is uniquely positioned to add value to the acquired project pipeline through its market integration capabilities and has a target to develop at least 8 GW of wind and solar by 2025.

Solar capacity has grown 27 times over the last decade and solar energy is expected to outshine other renewables as the world’s largest source of electricity from 2035, according to Statkraft’s Low Emissions Scenario. In 2050, solar power is expected to account for 38 per cent of global power generation.

Christian Rynning-Tønnesen, CEO of Statkraft comments: “This acquisition is in line with our strategy to ramp up as a wind and solar developer and become one of the leading renewable energy companies globally. Just like hydropower and solar power complement each other, Statkraft and Solarcentury are an excellent fit in terms of purpose and people. Joining forces will accelerate our growth and continue to drive the energy transition forward."

Frans van den Heuvel, CEO of Solarcentury commented: “Solarcentury has grown entirely organically since 2007 into a highly profitable business. To continue to grow at the pace that is possible given the market we’re operating in, we will benefit from a larger balance sheet and this has resulted in us seeking new ownership. Statkraft is the perfect match for us given their ambition to invest in and grow their solar portfolio.”

Solarcentury is a global solar developer headquartered in London, UK with around 180 people across 12 countries. Since the company changed their strategic approach in 2013 it has developed 40 utility-scale projects totaling ca 1,200 MWp across 7 countries.

The transaction is conditional upon customary regulatory and local competition approvals and is expected to be completed by the end of 2020.

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 4,000 employees in 17 countries. www.statkraft.com

About Solarcentury

Established in 1998, Solarcentury is a leading global solar power company that develops, constructs, owns and operates utility-scale solar and smart technology. Solarcentury is known internationally for developing and building some of the largest utility-scale solar projects in the UK, the Netherlands, Spain, Kenya and Mexico, including pioneering projects such as the world’s first solar bridge at Blackfriars Station in Central London.

Solarcentury’s mission is to make a meaningful difference in the global fight against climate chaos by making solar power the dominant energy source worldwide. During Solarcentury’s 22-year history the business has helped solar power become mainstream, and our projects have generated 6 billion kWh of clean electricity, saving over 1.7 million tonnes of CO2 emissions.

For further information:

Media:

Lars Magnus Günther, Media Relations, Statkraft AS,
Tel: +47 912 41 636, larsmagnus.gunther@statkraft.com

Susannah Wood, Marketing Director, Solarcentury
Tel: +44 7984 871558, Susannah.wood@solarcentury.com

Torbjørn Steen, VP Communications European Wind and Solar, Statkraft AS,
Tel: +47 911 66 888, torbjorn.steen@statkraft.com

Debt Capital Markets:

Stephan Skaane, Group Treasury
Tel: +47 905 13 652, stephan.skaane@statkraft.com

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