Statkraft is expanding its operations in Brazil through the acquisition of hydropower plants with a total combined capacity of 131.9MW.
The Norway-based renewable energy firm has signed an agreement with Energias do Brasil (EDP) to acquire a cluster of eight operational hydropower plants in the state of Espírito Santo in Brazil.
“This acquisition is a good fit with our strategy to build scale profitably in the markets where we are already present. It also positions Statkraft well for further development in Brazil, a key growth market for Statkraft," said Statkraft’s Executive Vice President Jürgen Tzschoppe.
Statkraft’s ambition is to grow in Brazil by acquiring and improving assets in operation and by developing new generation capacity in hydropower, wind and solar power.
It currently owns 81%of Statkraft Energias Renováveis (SKER) with Brazilian pension fund FUNCEF owning the remaining 19%. The generation portfolio consists of six hydropower plants and four wind farms. In addition, Statkraft has a minority ownership in four other hydropower plants. In total the portfolio is 318MW, while the acquisition of the eight hydropower plants will bring Statkraft’s fleet in Brazil to around 450MW.
Under the new agreement Statkraft Energias Renováveis (SKER) will take over 100% of EDP Energias do Brasil’s shares in EDP PCH (owner of seven operational hydropower plants) and Santa Fe Energia (owner of one operational hydropower plant). The transaction is subject to regulatory approvals.
