Norway’s Statkraft Divests Renewable Energy Assets In Four Markets

Norway’s Statkraft Divests Renewable Energy Assets In Four Markets

Norway’s Statkrafts wapped its hydropower units in Panama, Laos, Philippines and Zambia with other renewable energy assets in South America and Asia previously co-owned by a Norwegian development fund, the two organisations said on Wednesday.

Statkraft acquired full ownership of hydropower, solar and wind assets in Peru, Brazil, Chile, India and Nepal from Norfund, part of its strategy to operate in fewer places but increase its ownership in different renewables.

“We want to focus on fewer markets and have a plan to increase wind and solar power capacity,” Statkraft spokesman Lars Magnus Gunther said.

Statkraft and Norfund co-owned all the assets through joint ventures. The swap involved an exchange of shares in the ventures and a cash payment. Read More…

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