Atlantica Sustainable Infrastructure, a London-based company specializing in sustainable assets, has announced its acquisition of Statkraft’s Canadian renewable energy platform. This move adds 236 MW of operational capacity and a development pipeline totaling 0.8 GW in solar, wind, and energy storage projects. The transaction, expected to finalize by the end of 2025, strengthens Atlantica’s position in the Canadian market.
“This acquisition marks a strategic milestone for Atlantica, significantly expanding its presence in a core market with attractive growth prospects through the addition of high-quality operational wind assets and a development pipeline,” said Santiago Seage, CEO of Atlantica.
Atlantica, founded in 2014, operates a diverse portfolio including renewable energy, energy storage, efficient natural gas, electric transmission, and water assets across North America, Europe, and South America. This acquisition reinforces its strategic push into North America, adding operational depth in wind energy, one of its core growth areas.
The deal includes a 51% stake in the l’Érable wind facility in Québec, a 100 MW asset operational since 2013 with a power purchase agreement backed by an investment-grade utility. Also included is a 136 MW wind project in Alberta, launched in December 2024, with a corporate PPA and an average remaining contract life of about 15 years. Both assets have a history of stable operations and long-term contracts, aligning with Atlantica’s infrastructure-focused model.
The development pipeline features around 0.8 GW of solar, wind, and storage projects in different provinces. Atlantica will also incorporate a local team, enhancing its operational capabilities and strategic expansion across Canada and the broader North American market.
The Canadian portfolio is being sold by Statkraft, an Oslo-based energy company established in 1895, recognized for its expertise in hydropower and renewable energy. Statkraft entered the Canadian market by acquiring Enerfín’s international portfolio in November 2023, completing the deal in May 2024. This gave Statkraft a significant foothold in Spain and Brazil, where it is among the top 10 wind producers, but the divestment of Canadian assets indicates a strategic retreat from non-core regions.
“I am happy to announce that we have agreed to sell our renewables portfolio in Canada to Atlantica Sustainable Infrastructure, who will be able to grow this business further. The deal confirms that Enerfín built a skilled team and attractive portfolio in Canada. We are looking forward to watching the business grow under new ownership,” says Barbara Flesche, Executive Vice President at Statkraft.
Statkraft’s Canadian subsidiary, Enerfín Canada, is based in Montréal with offices in Calgary and Saint-Ferdinand. The sale includes its staff, two operational wind farms totaling 236 MW, and six wind and solar development projects across various provinces.
Closing is contingent on regulatory approvals, including under Canada’s Competition Act. Both parties expect to complete the transaction by the end of 2025.