Elecnor-Statkraft Deal: 1.8B EUR for Renewables Unit

• Norwegian power company Statkraft AS wins the bid for Spanish infrastructure builder Elecnor SA's renewables unit Enerfin, valued at EUR 1.8 billion. Strengthening its operations in Spain and Brazil, Statkraft secures a share in 1,734 MW of wind and solar projects.

Spanish infrastructure builder Elecnor SA has agreed to sell its renewables unit Enerfin to Norwegian state-owned power company Statkraft AS. The deal puts the enterprise value of Enerfin at EUR 1.8 billion, and if finalised, Statkraft will be the sole shareholder of Elecnor’s wind and solar development subsidiary. China Three Gorges Corporation was a front runner in the bidding race, however, Statkraft emerged as the successful bid. Enerfin owns stakes in 1,734 MW of wind and solar power projects in operation and under construction across four countries. Statkraft expects the acquisition to strengthen its market operations in Spain and Brazil.

What Price Did Statkraft Pay for Elecnor's Enerfin?

• Statkraft paid EUR 1.8 billion for Elecnor's Enerfin.
• The deal will make Statkraft the sole shareholder of Elecnor's wind and solar development subsidiary.
• Enerfin owns 1,734 MW of wind and solar power projects in operation and under construction across four countries: Spain, Brazil, France, and Portugal.
• China Three Gorges Corporation was a front runner in the bidding race, however, Statkraft emerged as the successful bidder.
• The acquisition is expected to strengthen Statkraft's market operations in Spain and Brazil.