Statkraft has completed the acquisition of renewable energy developer Enerfin from Elecnor Group for $1.95bn. The transaction will provide Statkraft access to ~1.2 GW of operational wind energy assets across Europe, South America and North America.
This move reflects a broader trend: Cash-rich investors drive corporate-level transactions this year, taking over revenue-accretive platforms with huge development pipelines that are currently under-valued. Meanwhile, highly-leveraged utilities and power producers are currently focussed on paying down debt and funding development through equity by divesting non-core assets.
Market Insight: The above motion was earlier iterated by Brookfield Renewable CEO Connor Teskey, who cited the presence of ‘more opportunities to buy high-quality renewable energy developers in core markets at cheaper prices than in 2021’ as the reason for Brookfield’s $11bn investment spree since 2022.
Future Outlook: Looking ahead, Enerdatics expects to see major players like Brookfield and Blackstone, as well as O&G majors like TotalEnergies, leading the way in renewable energy investments. Profitable power companies such as RWE and Statkraft are also set to play a significant role in this trend.
To gain a deeper insight into M&A trends at the corporate and asset level globally, request a trial of the Enerdatics Energy Transition M&A database today.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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