Norwegian energy company Statkraft has acquired two wind developers, Njordr Offshore Wind and Svevind Nordic, in Sweden.
The two companies have a combined pipeline of more than 37GW. Through the deals, Statkraft aims to strengthen its Swedish renewable energy profile while contributing to the country’s energy transition.
Svevind Nordic is an onshore wind developer with a workforce of 16. It will be fully integrated into Statkraft’s operations.
The company has a development pipeline of more than 16GW in installed capacity.
Its projects will be located in the electricity pricing zones SE1 and SE2. The 600MW Hästliden project is its most developed at present, and awaits governmental authorisation.
Svevind Energy Group founder and CEO Wolfgang Kropp stated: “We are very proud that our Swedish team, with its unique expertise and experience gained over the years, will support such an important energy company as Statkraft in the future.
“In Statkraft, Svevind Nordic gets a strong owner who can continue the important work we have done and progress the project pipeline while providing a continued positive work environment for the employees. Even if the career paths of long-time companions and colleagues part ways today, it feels right and beneficial for all parties.”
Njordr Offshore Wind is a joint venture between Njordr and Vindkraft Värmland. It is developing a portfolio of early-stage offshore wind projects.
The portfolio includes nine projects with a total capacity of 21GW.
To be built in the Swedish areas of the Western Sea, the Baltic Sea, the Bothnian Sea and the Gulf of Bothnia, the projects will generate more than 80 terawatt-hours of clean energy annually.
Statkraft plans to invest further in offshore wind projects as part of its expansion strategy in Sweden.
Njordr’s offshore business will be acquired, but its onshore wind and solar operations in Sweden, Norway and Finland are excluded from the deal.
Njordr board chairman Anders Hærland stated: “Njordr Offshore Wind has been a pioneer within offshore wind in Sweden, establishing a strong project team and a significant project pipeline by utilising the project origination expertise of Vindkraft Värmland.
“This transaction validates Njordr's strategy and how we are able to realise significant value from taking early positions.”
Statkraft is working to begin the integration of both companies into its operations.
It plans to retain the Svevind brand for operations that Svevind conducts outside Sweden.
David Flood, senior vice-president of offshore wind at Statkraft, stated: “The Nordic countries to a large extent form a common energy market. With an estimated need for a doubling of the electricity supply by 2045, Sweden is of particular interest for us. It fits well with our strategic ambition to grow within offshore wind with an ambition to have 10GW in operation in Europe by 2040.
“This deal comprises an attractive portfolio, which gives Statkraft the opportunity to contribute to delivering more renewable energy to Sweden, one of our focus markets.”
