Statkraft expands Irish portfolio with wind farms acquisition

Statkraft has purchased a portfolio of operating wind farms in Ireland from London-listed investment firm TRIG (The Renewables Infrastructure Group).

The assets, which are located in the Republic of Ireland, have a total capacity of 35MW.

It is anticipated that the assets, some of which began operating in 2000, could provide repowering opportunities in the future.

This would make Statkraft one of the first renewable energy companies in Ireland to repower older wind farms.

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Kevin O’Donovan, Managing Director of Statkraft Ireland, said: “These assets are a welcome addition to Statkraft’s Irish portfolio and further cement our position as a company committed to helping achieve not just Ireland’s 2030 targets, but its long-term net zero targets." 

O'Donovan added, “We see that onshore wind farms are already making a significant reduction to the cost of the current high electricity prices and reducing Ireland’s greenhouse gas emissions. Expanding our portfolio in Ireland is a key part of our strategy to develop, own and operate renewable energy projects, so we look forward to operating these assets in the future.”

Wind energy makes up a large percentage of renewable energy resources in Ireland. It is also Ireland's cheapest renewable energy resource and provided over 86% of Ireland’s renewable electricity and 36% of its total electricity demand in 2020.

The acquisition is part of Statkraft’s strategy to further strengthen its position in Europe. In 2021, Statkraft added 43 operational wind farms in Germany and France, with a combined capacity of almost 350MW, to its European onshore wind portfolio.