Statkraft buys Irish portfolio of wind assets from London-listed TRIG group

Norwegian energy group Statkraft has acquired a portfolio of wind farms in Ireland from London-listed investment firm TRIG (The Renewables Infrastructure Group) for an undisclosed sum.

The farms, with a total capacity of 35 megawatts (MW), are located in various sites in the Republic.

“It is anticipated that the assets, some of which began operating in 2000, could provide repowering opportunities in the future,” the company said, making Statkraft one of the first renewable energy companies in Ireland to begin repowering (replacing the older turbines) older wind farms.

The Norwegian group said the acquisition was 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 350 MW, to its European onshore wind portfolio.

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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.

“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.”

Statkraft, which develops, owns, and operates renewable energy projects, has more than 5,000 staff in 21 countries. In 2021, it added 39 wind farms across Germany and four in France to its European onshore wind power portfolio becoming one of the leading renewable energy companies globally.

It entered the Irish market in 2018 and since then has almost tripled its development portfolio. It plans to focus on both onshore and offshore renewable energy plants in the Republic.