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Statkraft launches wind and solar development activities in Spain and Portugal

25 Nov, 2019

Statkraft kicks off wind and solar development business in Spain and Portugal.

Statkraft aims at developing onshore wind and solar projects in the Iberian Peninsula in-house or by entering into partnerships to co-develop projects. In addition, the company will also look for M&A opportunities in this field. Statkraft's Wind & Solar department in Spain will be headed by Luis Miguel Alvarez. Luis Miguel brings broad and extensive experience in the renewable energy sector. Over the last 13 years he has been focusing on business development and project management activities for leading clean energy companies.

"The Iberian renewables market is interesting for us because it allows us to further enhance our role as market integrator and leadership as renewable energy generator by enabling the development of more renewable capacity and actively contributing to decarbonization and energy transition of Iberia's electricity generation and consumption placing Statkraft as a key player in the industry," says Tiago Thomaz, Head of Origination Iberia and Country Manager of Statkraft Spain.

"Statkraft is ramping-up wind and solar development activities as part of its strategic plan 2020-2025 and is planning to build 6,000 megawatts of onshore wind and 2,000 megawatts of solar worldwide until 2025. Thus, the Spanish renewable energy sector with estimated growth targets of 17 GW onshore wind and 18 GW solar by 2025 is one of the core target markets for Statkraft which should greater contribute to meet our targets," says Luis Miguel Alvarez, Head of Wind and Solar Iberia.

Statkraft has made the first step into the Iberian market already in March 2018 with the conclusion of a 15-year PPA for the first subsidy-free solar plant Don Rodrigo in Sevilla. To strengthen its position as a front runner in the renewable PPA business in Southern Europe, Statkraft established an office in Madrid in March 2019. As part of its market integrator role, Statkraft plans to triple its volumes under market access, PPAs and supply contracts with upstream generators and downstream end-customers by 2025 across Europe.