The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Statkraft AS has signed an agreement to buy the London-based
renewable energy developer Solarcentury Holdings Ltd, it said in statement.
The 118 million-pound ($152 million) deal will hand the Norwegian state-owned utility six gigawatts of solar projects under development in Spain, the Netherlands, the UK, France, Greece, Italy and Chile.
“This acquisition is in line with our strategy to ramp up as a wind and solar developer and become one of the leading renewable energy companies globally,†Christian Rynning-Tonnesen, chief executive officer of Statkraft, said.
Statkraft has pledged to develop at least eight gigawatts of wind and solar power by 2025.
The transaction is expected to complete by the end of 2020.