Statkraft acquires two Swedish wind power companies

Statkraft has acquired two companies in onshore and offshore wind power: Njordr Offshore Wind AB, which develops offshore wind power and Svevind Nordic AB, a development company in onshore wind power. 

Svevind Nordic currently has 16 employees with high competence in project development, mainly within onshore wind power. The company also has a development project pipeline that is included in the acquisition. The development projects are in electricity pricing zone SE1 and SE2 with a total potential installed capacity of more than 16 000 MW. The project that is most developed is Hästliden with 600 MW that is currently with the Swedish government for necessary approvals. The intention is to fully integrate Svevind Nordic into Statkraft's operations.

Jakob Norström, CEO of Statkraft Sweden, says:

"We are tremendously happy to be able to strengthen our operations with a group of extremely competent employees who, together with the project portfolio, will make an important contribution to our ambitions to grow in onshore wind power and not least to the industrial development in Northern Sweden."

Wolfgang Kropp, founder and CEO of SVEVIND Energy Group, says:

"We are very proud that our Swedish team, with its unique expertise and experience gained over the years, will support such an important energy company as Statkraft in the future. In Statkraft, Svevind Nordic gets a strong owner who can continue the important work we have done and progress the project pipeline while providing for a continued positive work environment for the employees. Even if the career paths of long-time companions and colleagues part ways today, it feels right and beneficial for all parties."

Njordr Offshore Wind, a joint venture between Njordr and Vindkraft Värmland, has developed a portfolio of early-stage offshore wind power projects. In addition, there is a team on site that can take the projects forth to delivery.

David Flood, Senior Vice President Offshore Wind at Statkraft, says:

"The Nordic countries to a large extent form a common energy market. With an estimated need for a doubling of the electricity supply by 2045, Sweden is of particular interest for us. It fits well with our strategic ambition to grow within offshore wind with an ambition to have 10 GW in operation in Europe by 2040. This deal comprises an attractive portfolio which gives Statkraft the opportunity to contribute to delivering more renewable energy to Sweden, one of our focus markets."

The portfolio includes nine projects located in the Swedish part of the Western Sea, the Baltic Sea, the Bothnian Sea and the Gulf of Bothnia. The total potential capacity of the projects is approx. 21 000 MW with an expected annual production of over 80 TWh per year. As part of the company's strategy to grow significantly in wind power, Statkraft is planning considerable investments in offshore wind power in Sweden going forward.

Anders Hærland, chairman of the board of Njordr, says:

"Njordr Offshore Wind has been a pioneer within offshore wind in Sweden, establishing a strong project team and a significant project pipeline by utilizing the project origination expertise of Vindkraft Värmland. This transaction validates Njordr's strategy and how we are able to realise significant value from taking early positions."

Work is now starting to integrate Svevind Nordic and Njordr Offshore Wind into Statkraft's operations. The Svevind brand will remain for other operations that the Svevind Group conducts outside of Sweden. The Njordr Group also has operations in onshore wind and solar power in Sweden, Norway and Finland. These activities are not covered by the transaction.