Statkraft Buys Swedish Company with 21 GW Offshore Wind Portfolio

Business & Finance

October 26, 2023, by Adnan Memija

Vindkraft Värmland and Njordr, the Nordic developer, have sold 100 per cent of the shares in the joint company, Njordr Offshore Wind (NOW), to Statkraft.

NOW holds a pre-permit portfolio of nine offshore wind projects in the Swedish economic zone with a total potential for up to 21 GW of installed capacity.

The portfolio includes projects located in the Swedish part of the Western Sea, the Baltic Sea, The Bothnian Sea, and the Gulf of Bothnia.

As part of the transaction, Statkraft has committed to fully fund the maturation of the portfolio in the coming two years.

“We are very excited about this transaction and are confident that Statkraft will secure a good
development of the attractive project portfolio. The NOW organization will be integrated with Statkraft
and continue to develop the project portfolio towards realization,” said Niklas Sondell, chairman of Vindkraft Värmland.

Vindkraft Värmland is the founding company of NOW and has been responsible for the origination of the projects as well as technical analysis and concept development, according to the press release.

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When it comes to Statkraft, the company is developing and operating renewable energy assets across Europe, South America, and Asia.

“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 by 2040,” said David Flood, Senior Vice President Offshore Wind at Statkraft.

In May, Statkraft, together with Copenhagen Infrastructure Partners, was selected in Ireland’s first auction for offshore wind under the Renewable Electricity Support Scheme (ORESS-1) to develop the 500 MW North Irish Sea Array (NISA) offshore wind project.