Atlantica Expands Into Canada With Acquisition Of Statkraft’s Renewable Energy Platform

The deal brings 236 MW of operational capacity and a 0.8 GW development pipeline spanning solar, wind and energy storage projects. Expected to close by the end of 2025, the acquisition strengthens Atlantica’s foothold in the Canadian renewable energy market.

“This acquisition marks a strategic milestone for Atlantica, significantly expanding its presence in a core market with attractive growth prospects through the addition of high-quality operational wind assets and a development pipeline” said Santiago Seage CEO of Atlantica.

The deal includes a 51% stake in Québec’s 100 MW l’Érable wind facility, operating since 2013 under a long term PPA, and a 136 MW Alberta wind project launched in December 2024 with a 15-year corporate PPA. Both projects offer stable returns and operational consistency.

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Atlantica also gains a development pipeline of ~0.8 GW in solar, wind, and storage across Canada and inherits a local team to drive future growth in the region.

The assets were sold by Statkraft, a Norwegian renewables giant that entered Canada in 2023 through Enerfín’s acquisition. The divestment marks Statkraft’s strategic pivot to core regions like Spain and Brazil, where it's now a top-10 wind producer.

“I am happy to announce that we have agreed to sell our renewables portfolio in Canada to Atlantica Sustainable Infrastructure, who will be able to grow this business further. The deal confirms that Enerfín built a skilled team and attractive portfolio in Canada. We are looking forward to watching the business grow under new ownership,” says Barbara Flesche, Executive Vice President at Statkraft.

Statkraft’s Canadian subsidiary, Enerfín Canada, is headquartered in Montréal and has offices in Calgary and Saint-Ferdinand. The sale includes its staff, two operational wind farms totalling 236 MW, and six wind and solar development projects across several provinces.

Closing is contingent on regulatory approvals, including under Canada’s Competition Act. Both parties anticipate completing the transaction by the end of 2025.

About Atlantica Sustainable Infrastructure

Founded in 2014, Atlantica Sustainable Infrastructure Ltd. manages a diverse portfolio of renewable energy, storage, natural gas, electric transmission, and water assets across the Americas and Europe. Its latest acquisition deepens its presence in North America and expands its footprint in wind energy—a key area of growth.