Statkraft acquires UK onshore wind developer Airvolution Clean Energy Ltd.

21.08.2019 | news

Photo: The Berry Burn Wind Farm in Moray, Scotland, where Airvolution are proposing an extension of up to 10 turbines.

(London, 21 August 2019) Statkraft has acquired the entire shareholding of UK onshore wind developer Airvolution Clean Energy Ltd. The acquisition is in line with Statkraft’s recently stated ambitions to deploy 600MW of onshore wind and solar generation in the UK.

Statkraft’s acquisition of Airvolution Clean Energy Ltd. further strengthens Statkraft’s position in the UK since its acquisition of Element Power UK and Ireland activities in late 2018. It is in line with Statkraft’s recently stated ambitions to deploy 600MW of onshore wind and solar generation in the UK by 2025, with a further 600MW in development.

Airvolution have been working exclusively on behalf of Statkraft since October 2017 to identify, secure and bring forward project opportunities in Scotland and this deal will see the Airvolution team moving in-house as part of the growing Statkraft workforce based in the UK.  Airvolution’s Glasgow office will be retained by Statkraft and soon double in size with new recruits starting in September.

Richard Mardon, CEO of Airvolution Clean Energy Limited comments; “This acquisition is a clear and powerful endorsement of our strong performance over the past two years. The UK policy changes of 2015 resulted in great uncertainty in the sector, and I’m proud that with an enormous amount of hard work and determination we have been able to adapt and continue to deliver quality projects.  We look forward to continuing that momentum within the Statkraft UK team.”

“We have been very impressed with what Airvolution has achieved in a relatively short period of time through our development partnership for Scottish onshore wind projects.  Bringing the team in-house is a natural progression of that partnership, significantly strengthening our ability to deliver against our ambitious targets for the UK” says David Flood, Managing Director of Statkraft UK.

“Our ambitions for the UK are a core part of Statkraft’s growth strategy and our plans to increase our portfolio of wind power assets to 6,000MW and our portfolio of solar power assets to 2,000MW globally by 2025. The acquisition of an organisation which has a strong track record across site selection, development, and construction is an important milestone towards achieving this,” says Steinar Bysveen, Executive Vice President of Statkraft.

For further information:

Torbjørn Steen, VP Communications Statkraft AS, Tel: +47 911 66 888, torbjorn.steen@statkraft.com

Richard Mardon, CEO Airvolution Clean Energy Limited, Tel: +44 20 3030 5060,
richardmardon@airvolutionenergy.com