2030 Finance | November 3, 2020

Norway’s Statkraft to buy solar power developer Solarcentury

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, November 3 – Statkraft is paying $151.34 million to acquire U.K.-based Solarcentury. Solarcentury has developed 1.3-gigawatts of installed solar power since 1998 and claims to have a pipeline of projects totaling 6-gigawatts.  

The deal inches Statkraft, the Norwegian state-owned utility known for its hydro-power production, closer to its goal of owning 8-gigawatts of wind and solar facilities by 2025. 

The deal also provides an exit to Solarcentury investors, including Zouk Capital, which led Solarcentury’s £13.5 million (then $21.6 million) funding round in 2012.