Statkraft in Europe has purchased 18.69% of the shares in its Brazilian subsidiary Statkraft Energias Renováveis (SKER) from Fundação dos Economiários Federais (Funcef), the third largest pension fund in Brazil.
This means SKER is now 100% owned by the Statkraft Group.
“With this acquisition, we will be able to bring even more agility to our strategic plan by increasing our ownership in Brazil. I would also like to thank Funcef for the long successful partnership we had along this journey together,” says Ingeborg Dårflot, executive vice president international with Statkraft.
The company has been present in Brazil since 2009 and controls 14 hydro power plants and four wind farms in the country, with about 450 MW of installed capacity in operation. SKER is also executing an ambitious growth strategy, investing around BRL3.4 billion (US$700 million) in 600 MW of wind power under construction and recently acquiring 260 MW of operating assets. SKER is looking forward to continued growth through both greenfield construction as well as acquisitions, according to a release.
SKER is in the final stages of constructing the Santa Eugênia Wind Complex in Bahia, the Northeast region of the country. The renewable energy production of the complex is expected to reach 2,300 GWh per year. The complex will comprise 14 wind farms, totaling 91 wind turbines with a capacity of 5.7 MW each.
In Bahia, Statkraft is also constructing the greenfield wind project Morro do Cruzeiro, an expansion of the operational Brotas de Macaúbas Wind Complex. The expansion consists of 14 turbines with an installed capacity of 79.8 MW. The project will generate 386 GWh of renewable energy per year, enough to power more than 190,000 households.
Both ongoing projects are financed with resources from the Banco do Nordeste do Brasil (BNB).
Last month, Statkraft announced signing of an agreement with EDPR to purchase two wind farms in Brazil. This transaction, together with the acquisition of FUNCEF’s shares today, is an important part of Statkraft’s global growth. Based on projects under construction, in acquisition and operational, Statkraft will soon reach 1.3 GW of installed capacity in Brazil.
