Solar developer Solarcentury’s brand name has been retired following the company’s acquisition by Norwegian state-owned utility Statkraft.
Statkraft acquired 100% of the shares in Solarcentury Holdings and its subsidiaries in November 2020, gaining access to a 6GW solar pipeline in Europe and South America. The utility, which secured Solarcentury in a deal worth £117.7 million, has a target to deploy 8GW of wind and solar capacity by 2025.
Since Statkraft announced the acquisition six months ago, Solarcentury has so far completed construction on 550MWp of solar capacity, achieved permits for a further 1.22GWp and submitted planning for 423 MWp, according to a statement from the parent company.
Fully integrating Solarcentury’s team into Statkraft will support the power producer’s aim to become “one of the leading renewables companies in the world,” Birgitte Ringstad Vartdal, EVP of Statkraft’s European solar and wind business, said.
“Investment in renewable energy production – including solar and wind energy – and a greener grid are essential to every country’s journey to reach net zero,” she said.
Reports that Solarcentury was seeking a sale first emerged in April 2019, as the company had met with investment bank Evercore to oversee an auction of the company. Solarcentury’s then-chief executive Frans van den Heuvel later told our sister publication Solar Power Portal that a sale was necessary to compete in the “top tier” of the global solar market.
Barbara Flesche, Solarcentury’s current CEO, has now been named Statkraft’s chief financial officer of the company’s European wind and solar business.
She said the Solarcentury team is “thrilled to continue to grow as part of Statkraft”.
“As part of Statkraft, our position in the market is stronger than ever as Europe’s largest renewable energy producer.”