Norway-based renewable energy company Statkraft has acquired a substantial wind power portfolio from Breeze Two Energy, consisting of 39 operational wind farms, for the purchase price of NOK4.7 billion (~$443.2 million).

The company said this marks a substantial addition to Statkraft’s European onshore wind power portfolio.

The strategic acquisition, encompassing 337 MW of capacity, focuses on wind farms located in Germany and France. The primary goal of this endeavor is to optimize the performance of these wind farms and, in the long term, replace older turbines with more efficient models.

In Germany, the newly acquired wind power portfolio comprises 35 wind farms, housing a total of 165 turbines with an installed capacity of 310 MW. This acquisition doubles Statkraft’s wind power capacity in the country, elevating the company to the ranks of Germany’s top ten wind power operators.

In France, Statkraft has added four wind farms with 20 turbines and a combined installed capacity of 27 MW, which nearly doubles the company’s wind power capacity in the country.

The acquisitions align with the company’s target of reaching an annual development rate of 4 GW by 2030.

The acquired wind farms are strategically positioned in regions known for their robust and consistent wind patterns. Constructed approximately 15 to 21 years ago, these sites hold repowering potential.

The company intends to upgrade these wind farms with modern, more efficient turbines that can potentially double their energy output.

Barbara Flesche, EVP Europe at Statkraft, said, “Our experience delivering competitive operations and maintenance at scale makes Statkraft the right owner to facilitate the required lifetime extension and repowering and continue to generate renewable wind power from these sites.”

In November 2022, Statkraft announced the commissioning of its 55 MW Nellai solar project. Developed under the group captive model, the project is located at Ettanakulam village in Manur Taluk in the Tirunelveli district of Tamil Nadu.

In April, Statkraft secured a €1.3 billion (~$1.43 billion) five-year sustainability-linked syndicated revolving credit facility with two ‘one-year extension’ options.