Fotowatio Renewable Ventures (FRV) Australia is emerging as the likely winner of the auction for Statkraft’s 1.7 gigawatt (GW) renewable portfolio in Australia. This operation is part of the process of selling a series of assets of Enerfín, a former subsidiary of Elecnor, which the Norwegian company bought last year for 1.8 billion euros.
Statkraft, which hired Rothschild last May to execute sales in the so-called Sancho project, hopes to close the operation before Christmas, according to the financial media. Infralogic.
The plan in question contemplates the transfer of a portfolio of assets that includes several wind and solar projects in various stages of development. Among them stand out the Stony Creek Wind Farms (165 MW) and Kings Plain (400 MW). Both are expected to begin construction next year.
The wind project will be added to these renewable plants in the coming years. Tare250 MW, in queensland; the wind project Booligalof 600 MW, and the solar project Booligalof 200 MW, in New South Wales. None of Enerfin’s developments in Australia are yet in operation.
If the sale is carried out, the Spanish firm currently controlled by Lateef Energy and the Canadian fund Omers will be imposed on the other bidders for the acquisition of the portfolio renewable energy, among which the Swedish developer OX2 and Palisade Investment Partnersalthough the latter chose not to present a final offer.
FRV Australia stands out as one of the country’s most successful solar developers. In July, refinanced a portfolio of eight solar plants for 1.2 billion Australian dollars (720 million euros), which guaranteed not only financial support for all farms, but also support for future growth and the development of new projects. However, increasing competition from the residential solar sector has driven FRV to diversify your strategywhich has led the developer to look at wind assets.
Along with asset sales in Australia, Statkraft is also immersed in the transfer of renewables from Enerfin in Canada, Colombia and the USA. In Canada it is looking for a buyer for 1,255 MW. It has also placed the for sale sign in various parks of the former subsidiary of the Spanish company in Colombia, where it plans to transfer 135 operational MW and a wind and photovoltaic portfolio of almost 500 MW. Meanwhile, in the United States all the projects are in early stages of development and between them they are around 1,000 MW of capacity. In any case, the largest portfolio in terms of capacity It is the one that FRV is trying to buy in Australia.
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