Solarcentury retires brand as it fully joins Statkraft

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Image: Statkraft

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.”

Read Next

May 10, 2021
Solar developer ReneSola Power has established a joint venture with asset management firm Eiffel Investment Group to finance its current European project pipeline.
May 3, 2021
Scatec’s posted an improved first-quarter financial performance after closing its acquisition of hydropower developer SN Power in January and completing solar projects in South Africa and Ukraine.
March 29, 2021
Solar developer ReneSola returned to net profit last year despite struggling with declining revenues throughout 2020.
March 24, 2021
Activity in the UK’s utility-scale solar market has continued to ramp after renewables majors Statkraft, EDF and Lightsource bp all unveiled new projects.
February 23, 2021
The development of Denmark’s grid will be driven by rising electricity demands from consumers rather than the growing renewables sector, a panel of key figures in the country’s green energy sector have suggested.
February 17, 2021
Shorter purchasing contracts with private companies could be a "lucrative" short-term source of income for Poland's solar market.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021