Statkraft acquires hydropower in Brazil

Statkraft has signed an agreement with EDP Energias do Brasil to acquire a cluster of eight operational hydropower plants in the state of Espírito Santo in Brazil.

The portfolio has a total installed capacity of 131.9 MW and will expand Statkraft’s operations in Brazil.

“This acquisition is a good fit with our strategy to build scale profitably in the markets where we are already present. It also positions Statkraft well for further development in Brazil, a key growth market for Statkraft,” says Statkraft’s Executive Vice President Jürgen Tzschoppe.

Statkraft is Europe’s largest producer of renewable energy and has an ambition to grow further within hydropower, wind and solar power, as well as market operations in Europe, India and South-America.In Brazil, the ambition is to grow by acquiring and improving assets in operation and by developing new generation capacity in hydropower, wind and solar power.

In Brazil Statkraft owns 81 per cent of Statkraft Energias Renováveis (SKER) with the Brazilian pension fund FUNCEF owning the remaining 19 per cent. The generation portfolio consists of six hydropower plants and four wind farms. In addition, Statkraft has a minority ownership in four other hydropower plants. In total the portfolio is 318 MW, while the acquisition of the eight hydropower plants will bring Statkraft’s fleet in Brazil to around 450 MW.

Under the agreement Statkraft Energias Renováveis (SKER) will take over 100 per cent of EDP Energias do Brasil’s shares in EDP PCH (owner of 7 operational hydropower plants) and Santa Fe Energia (owner of 1 operational hydropower plant). The transaction is subject to regulatory approvals.