Statkraft, Europe’s largest producer of renewable energy, signed an agreement to acquire London-based solar pioneer Solarcentury, the company announced on Monday.

The transaction covers a 100% share acquisition of Solarcentury Holdings and its subsidiaries. It will also allow Statkraft to gain access to a 6-gigawatt pipeline (gross) in Europe and South America that combined with Statkraft’s current project portfolio positions the company as a leading developer in the European solar market.

Solarcentury’s project pipeline spans many high-growth markets including Spain, the Netherlands, the UK, France, Greece, Italy and Chile.

The main shareholders were previously Scottish Equity Partners, VantagePoint Capital Partners, Zouk Capital, and Grupo Ecos.

"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. Just like hydropower and solar power complement each other, Statkraft and Solarcentury are an excellent fit in terms of purpose and people. Joining forces will accelerate our growth and continue to drive the energy transition forward," said Christian Rynning-Tonnesen, CEO of Statkraft.

By Murat Temizer

Anadolu Agency

energy@aa.com.tr