Norwegian power company Statkraft AS announced on Thursday that it has acquired two companies holding pipelines filled with over 37 GW of onshore and offshore wind projects in Sweden, in an effort to strengthen its position in the wind energy sector in the country.
Paying an undisclosed amount, Statkraft bought onshore wind developer Svevind Nordic AB, part of Dresden-based Svevind Energy Group, and Swedish-Norwegian joint venture (JV) Njordr Offshore Wind AB.
Svevind Nordic comes with a pipeline of onshore wind projects with a total potential capacity of more than 16 GW. The most developed of them is the 600-MW Hastliden project, which is currently awaiting approval from the Swedish government.
The Svevind brand will remain alive for the group’s other businesses outside of Sweden, while Svevind Nordic is set to be integrated into Statkraft’s operations, the Norwegian buyer said.
Njordr Offshore Wind is the JV between Norwegian renewables developer Njordr and Sweden’s Vindkraft Varmland. The firm brought to the acquisition a portfolio of nine early-stage projects located in the Swedish waters of the Western Sea, the Baltic Sea, the Bothnian Sea and the Gulf of Bothnia. The total potential capacity of these projects stands at around 21 GW.
The Njordr Group is also active in onshore wind and solar power in Sweden, Norway and Finland, but those activities were not included in the transaction.
“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 10 GW in operation in Europe by 2040,” said David Flood, Senior Vice President Offshore Wind at Statkraft.
“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,” Flood added.