(Bloomberg) — Statkraft AS, Europe’s largest renewable energy generator, plans to divest businesses in a number of countries, as the company seeks to focus on core markets in Europe and South America.
The company will sell its onshore wind, solar and battery business in the Netherlands and Croatia, as well as hydropower and solar assets in India, it said in a statement Wednesday. Statkraft has said previously that it planned to sell its district heating business, as well as biofuels company Silva Green Fuel and Mer, an EV charging company.
Statkraft outlined plans in January to spend 67 billion kroner ($6.1 billion) upgrading hydropower and wind resources in Norway, to shore up power supplies in the face of rising electricity demand. The company is looking to boost the annual delivery rate of solar, wind, and battery storage projects in key markets by between 2 and 2.5 GW from 2026.
“We have already sharpened our strategy to allocate capital to our core business, and now we are focusing our investments on fewer markets,” Statkraft CEO Birgitte Ringstad Vartdal said in the statement.
The company also said it would be reorganizing the business effective Jan. 1, including the creation of a new technology and project delivery division.
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