Norway’s Statkraft to purchase UK Solarcentury for £118m

Norway’s Statkraft to purchase UK Solarcentury for £118m: Norwegian state-owned utility Statkraft has reported the acquisition of UK solar panel manufacturer Solarcentury in a deal estimated at £118 m.

The energy company will attain access to a 6GW pipeline in South America & Europe, as well as the UK, Spain, France, Greece and Italy, upholding Statkraft’s determination to cultivate at the minimum of 8GW of solar and wind capacity by 2025.

The transaction is a procurement of 100% of the shares in Solarcentury Holdings and its subsidiaries.

Statkraft’s research indicates that after having grown 27 times over the last decade, solar energy will outperform other renewables as the world’s biggest source of electricity from 2035.

Solar power is anticipated to account for about 38% of global electricity generation by 2050.

Christian Rynning-Tønnesen, CEO of Statkraft says: “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.”

The deal is conditional to regulatory and local competition approvals & is predicted to be completed by the end of the year.

Norway’s Statkraft to purchase UK Solarcentury for £118m

, , , , , , ,
Previous Post
EU Commission direct France to Court over air quality
Next Post
UK’s onshore wind capacity ‘could reach 30GW by 2030’

Related Posts

Gap amid cheapest energy fixed tariff & price cap narrows

Gap amid cheapest energy fixed tariff & price cap narrows: Research from Cornwall Insight’s ‘Domestic supplier insight service’ reveals the gap between the cheapest tariff on the market and the default tariff price cap has reduced to its lowest level since February 2019, standing at £219/year. This is 40% less than at the end of…
Read More

Second green bond launch by Warrington Council

Second green bond launch by Warrington Council: A new solar and battery project near Cirencester is looking to raise £1 million of funding after Warrington Borough Council joined forces with Abundance Investment. Community Municipal Investment (CMI) revenues generated will be used to support Warrington’s efforts to become Britain’s first carbon neutral town and other green…
Read More

Subscribe to our newsletter!

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

British Utilities will use the information you provide on this form to be in touch with you and to provide updates and marketing.