Atlantica Sustainable Infrastructure has announced the acquisition of Statkraft’s Canadian platform, bringing together 236 megawatts (MW) of operational assets and a 0.81 gigawatt (GW) development pipeline. This transaction covers the entirety of Statkraft’s portfolio in the country, including wind, solar, and storage projects, mainly located in Quebec and Alberta.
A multi-technology portfolio and long-term contracts
The platform includes a 51 % stake in the l’Érable wind farm, with a capacity of 100 MW, in operation in Quebec since 2013. This asset benefits from a Power Purchase Agreement (PPA) with an investment-grade utility company, providing predictable cash flows. The transaction also includes a 136 MW wind asset in Alberta, commissioned in December 2024 and backed by a long-term industrial PPA. On average, the remaining PPA contract duration is fifteen years.
Completion of the transaction remains subject to approval under the Competition Act and other customary regulatory authorisations, with finalisation expected before the end of 2025.
Solar, wind, and storage development
In addition to operational assets, the acquisition includes a pipeline of around 0.81 GW of projects under development, spanning solar, wind, and storage across several Canadian provinces. This portfolio positions Atlantica to capture new growth opportunities in the Canadian market and broaden its exposure to power generation and storage technologies.
The integration of Statkraft’s local team will support operations management and the development of all transferred projects. According to Santiago Seage, Chief Executive Officer of Atlantica, this transaction represents a strategic step to strengthen the group’s presence in Canada.
The Canadian renewable energy and storage sector continues to expand, supported by demand for low-carbon energy solutions and favourable regulatory developments.
