Statkraft to Buy U.K. Renewable Energy Developer Solarcentury

(Bloomberg) -- Statkraft AS has signed an agreement to buy the London-based renewable energy developer Solarcentury Holdings Ltd., it said in statement on Monday.

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 U.K., 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. Solarcentury has 180 employees across 12 countries.

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