Statkraft Sells Canadian Renewable Assets to Atlantica Sustainable Infrastructure
In a strategic move that underscores the dynamic nature of the renewable energy sector, Statkraft AS has finalized an agreement to sell its Canadian renewable energy portfolio, Enerfín Canada, to Atlantica Sustainable Infrastructure Ltd. This transaction, announced on August 1, 2025, marks a significant shift in the landscape of renewable energy in Canada, as Statkraft divests its operations to focus on other strategic priorities.
Enerfín Canada, based in Montreal, Québec, with additional offices in Calgary, Alberta; Montreal; and Saint-Ferdinand, Québec, has been a notable player in the Canadian renewable energy market. The portfolio includes a team of skilled professionals, operational wind farms, and a robust development pipeline. Barbara Flesche, Executive Vice President at Statkraft, expressed optimism about the sale, stating, “We are looking forward to watching the business grow under new ownership.” This sentiment reflects Statkraft’s confidence in Atlantica’s ability to expand and enhance the portfolio’s value.
Atlantica Sustainable Infrastructure has announced the acquisition of a comprehensive renewable energy platform in Canada, which boasts 236 MW of operational capacity and a 0.81 GW pipeline of renewable and storage projects. The operational portfolio includes a 51% stake in l’Érable, a 100 MW wind facility in Quebec, operational since 2013, and a 136 MW wind asset in Alberta, which commenced operations in December 2024. Both assets are backed by Power Purchase Agreements (PPAs) with investment-grade entities, ensuring a stable revenue stream with an average remaining contract life of 15 years.
The acquisition is subject to regulatory approvals, including the Competition Act, highlighting the transaction’s complexity and the importance of compliance in large-scale energy deals. This move by Atlantica Sustainable Infrastructure not only expands its footprint in the renewable energy sector but also demonstrates the growing trend of consolidation and strategic realignment within the industry.
While Statkraft shifts its focus away from Canadian operations, it continues to make strides in other regions. Recently, Statkraft received its first BImSchG approval for a wind project in Germany, indicating its ongoing commitment to expanding renewable energy infrastructure in Europe. Additionally, Statkraft has secured approval for a Vestas wind park, further solidifying its presence in the European renewable energy market.
This sale of Enerfín Canada to Atlantica Sustainable Infrastructure is a testament to the evolving nature of the renewable energy sector, where strategic divestitures and acquisitions are becoming increasingly common as companies seek to optimize their portfolios and capitalize on emerging opportunities. As the industry continues to grow, such transactions will likely play a crucial role in shaping the future of renewable energy globally.