Solarcentury retires brand name as it fully signs up with Statkraft

May 4, 2021 10:59 AM ET
  • Solar developer Solarcentury's brand has been retired following the firm's procurement by Norwegian state-owned utility Statkraft.
Solarcentury retires brand name as it fully signs up with Statkraft
Image: Statkraft

Statkraft got 100% of the shares in Solarcentury Holdings as well as its subsidiaries in November 2020, gaining access to a 6GW solar pipeline in Europe and also South America. The energy, which protected Solarcentury in a deal worth ₤ 117.7 million, has a target to deploy 8GW of wind and solar capability by 2025.

Since Statkraft revealed the procurement 6 months back, Solarcentury has so far finished construction on 550MWp of solar capability, achieved licenses for a more 1.22 GWp and sent planning for 423 MWp, according to a statement from the parent firm.

Totally integrating Solarcentury's group right into Statkraft will certainly support the power producer's purpose to come to be "one of the leading renewables business in the world," Birgitte Ringstad Vartdal, EVP of Statkraft's European solar as well as wind business, stated.

" Financial investment in renewable resource production-- including solar as well as wind power-- as well as a greener grid are essential to every nation's journey to reach internet zero," she stated.

Reports that Solarcentury was seeking a sale first emerged in April 2019, as the company had actually consulted with financial investment financial institution Evercore to oversee an auction of the firm. Solarcentury's then-chief exec Frans van den Heuvel later told our sibling publication Solar Power Portal that a sale was needed to contend in the "leading tier" of the international solar market.

Barbara Flesche, Solarcentury's present Chief Executive Officer, has actually now been named Statkraft's chief financial officer of the business's European wind and solar business.

She stated the Solarcentury group is "thrilled to remain to grow as part of Statkraft".

" As part of Statkraft, our placement in the market is more powerful than ever before as Europe's largest renewable resource producer."