October 26, 2018 / 8:36 AM / 23 days ago

Norway's Statkraft to acquire 8 hydropower plants in Brazil

OSLO, Oct 26 (Reuters) - Norway’s Statkraft, one of Europe’s largest producers of renewable energy, agreed to acquire eight operational hydropower plants in Brazil’s Espirito Santo state, with a total installed capacity of 131.9 megawatt (MW), the firm said on Friday.

Under the agreement, Statkraft Energias Renovaveis (SKER) will take over EDP Energias do Brasil’s shares in EDP PCH, which owns seven of the plants, and Santa Fe Energia, owner of the eight plant.

The acquisition will bring Statkraft’s portfolio in Brazil to a total size of about 450 MW and will add to its existing six hydropower plants and four wind farms.

“This acquisition is a good fit with our strategy... It also positions Statkraft well for further development in Brazil, a key growth market for Statkraft,” executive vice president Jurgen Tzschoppe said.

In Brazil, Statkraft’s ambition is to grow by acquiring and improving assets in operation and by developing new capacity in hydropower, wind and solar power, said the firm.

Statkraft owns 81 per cent of SKER, with the Brazilian pension fund FUNCEF owning the remaining 19 per cent. The transaction, the value of which was not made public, is subject to regulatory approvals. (Reporting by Lefteris Karagiannopoulos, editing by Terje Solsvik)

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