Statkraft acquires Desenvix majority

BRAZIL: Statkraft will increase its shares to become 81.3% owner of local renewable energy developer Desenvix.

by David Weston 16 February 2015

Desenvix owns one 34.5MW project in Brazil using Sinovel's 1.5MW turbine

Statkraft will acquire all of the shares in Desenvix, currently 36.85%, held by infrastructure group Jackson Empreendimentos. This will be added to the 44.45% already held by Statkraft.

The agreement still needs to be approved by pension fund FUNCEF, which holds the remaining 18.7%, and the Brazilian authorities. This is expected to be completed in the second quarter of 2015.

Statkraft CEO Christian Rynning-Tonnesen said the acquisition would allow "further growth" in Brazil.

Desenvix owns one 34.5MW project in Sergipe, east Brazil and has stakes in two transmission lines plus a portfolio of hydropower projects.

It has also developed a further 90MW of wind projects in Bahia, east Brazil, owned by Brazilian conglomerate Engevix. Jackson Empreendimentos is a holding company for Engevix.

Norwegian utility Statkraft is a major wind developer with projects in Norway and the UK. Last week it in RWE's 900MW Triton Knoll offshore project in the UK North Sea.