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Natural Power advises Statkraft on Element Power acquisition

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Leading renewable energy and infrastructure consultancy, Natural Power, has provided technical due diligence support to Statkraft for the acquisition of the Irish and UK wind development businesses of the Element Power Group.

The transaction provides Statkraft with a large onshore wind development pipeline in Ireland and strengthens its position in the UK. It is already Europe’s largest producer of renewable energy and has an ambition to grow further within the hydropower, wind and solar sectors.

Natural Power was selected for this project thanks to the team’s understanding of Statkraft’s requirements of the task. It was important for the company that the team was adaptable and able to make a thorough and professional assessment within tight timescales.

The transaction comprises Element Power Ireland Ltd and three UK project companies, including the current organisation with around 50 employees that will be integrated into Statkraft. The portfolio of wind farms currently under development in Ireland (c. 1,300MW) and the UK (c. 250MW) fits well with Statkraft’s growth strategy and its plan to increase its portfolio of wind power assets to 6,000MW by 2025.

Marc Lamphiere, Country Director for Natural Power in Ireland, said: “We were delighted to be working with Statkraft as part of this deal. It’s great to see a renowned, global business investing in key Irish and UK renewable energy assets, and our involvement as technical due diligence advisor underpins our ability to deliver robust, bankable advice to clients.”

Natural Power provides technical due diligence services throughout all stages of the transaction cycle, from initial risk assessment and reporting in early transaction stages through to comprehensive reporting for credit-committee or data room presentation at final bid stage or financial close. Its due diligence clients include major international banks, developers, IPPs, utilities, investment funds and other financial institutions. To find out more about Natural Power’s technical due diligence services, please visit https://www.naturalpower.com/our-services/due-diligence/

About Statkraft
Norwegian-owned Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 3500 employees in more than 17 countries.

About Natural Power
Natural Power is a leading independent renewable energy and infrastructure consultancy that employs 350 staff globally. The company offers proactive and integrated consultancy, management and due diligence services, backed by an innovative product range, across the onshore wind, offshore wind, solar PV and storage sectors, while maintaining a strong outlook on other new and emerging renewable energy sectors.

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ENDS

Contact details:
Jane Maher
PR and Media
Natural Power
T: 07887 995 589
E: janem@naturalpower.com