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Norwegian giant expands into Germany and France

Norwegian renewable energy giant Statkraft consolidates its position in Germany and France by doubling its wind power capacity with the acquisition of 39 wind farms for 406 million euros, thus contributing to Europe's energy transition.

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Norwegian renewable energy giant Statkraft announced on Thursday that it had purchased 39 wind farms in Germany and France from Germany’s Breeze Two Energy for 406 million euros.

Norwegian energy giant Statkraft doubles its wind power capacity in Germany and France

This portfolio of assets, consisting of 35 farms (165 turbines) in Germany and four (20 turbines) in France, represents a total capacity of 337 MW.

The deal will enable Statkraft to double its wind power capacity in both countries, says the Norwegian state-owned group in a press release. To boost the power of the acquired facilities, Statkraft says it is considering replacing turbines erected 15 to 21 years ago.

“Replacing old turbines with new, more efficient ones can double energy production at these sites, thereby contributing to Europe’s energy transition,” notes Barbara Flesche, Statkraft’s Vice President Europe, quoted in the release.

Mainly present in hydroelectricity, the Norwegian group aims to grow in wind power, solar energy and battery storage. This announcement was made alongside the presentation of very solid financial results, despite a drop in electricity production and prices.

Thanks in particular to its trading activities, Statkraft’s net profit reached 5.5 billion kronor (476 million euros) in the second quarter, compared with a loss of 1.4 billion kronor a year earlier.

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