Norwegian state-owned energy company Statkraft has acquired 39 onshore wind farms in Germany and four in France from Breeze Three Energy.
The agreement marks Statkraft’s entry into the renewable energy markets of both countries.
Financial terms of the transaction were not disclosed.
Birgitte Ringstad Vartdal, Executive Vice President of Statkraft European Wind and Solar, said: “Statkraft has ambitions to continue to grow in hydropower, wind and solar.
“We aim to be a major wind and solar developer with a development rate of 2.5 GW to 3 GW per year by 2025.
“Today’s acquisition further strengthens our role as a key player in renewable energies in Europe and gives us the opportunity to further develop our portfolio in Germany and France.
“With our solid experience in the development, management, operation and marketing of renewable assets, Statkraft is the good owner of the wind farms acquired to continue to optimize operations and extend part of the portfolio.
The German wind portfolio has a total installed capacity of 311 MW and covers an area from Bavaria to Schleswig-Holstein.
It includes 187 turbines which generate around 463 GWh of clean energy per year.
Statkraft has stated that it will ensure that all contractual commitments associated with these wind farms are met and aims to continue partnerships with all of their stakeholders.
The four onshore wind farms in France have a total installed capacity of 35 MW and are spread across New Aquitaine, Pays de la Loire and Normandy.
Last November, Statkraft established itself in the European solar market by acquiring the British solar panel manufacturer Solarcentury.
The company recently agreed to sell a portfolio of solar projects in southern Spain to London investor The Renewables Infrastructure Group (TRIG) for an undisclosed amount.
Statkraft will continue to be responsible for the construction of the four solar parks, which will be co-located in Cadiz and will have a total capacity of 234 MWp.