DLA Piper advises on the acquisition of Solarcentury by Statkraft

DLA Piper has advised shareholders of Solar Century Holdings Limited in relation to its sale to Statkraft, Europe’s largest producer of renewable energy. Together the companies are well positioned for accelerated growth in solar and to become one of the world’s leading renewable energy companies.

The transaction involved the acquisition of 100 per cent of the shares in Solarcentury Holdings and its subsidiaries. The main shareholders were previously Scottish Equity Partners, VantagePoint Capital Partners, Zouk Capital, and Grupo Ecos. The purchase price was GBP117.7 million and includes net cash.

Statkraft gains access to a 6 GW pipeline (gross) in Europe and South America that combined with Statkraft’s current project portfolio immediately positions the company as a leading developer in the European solar market. Solarcentury’s project pipeline spans many high-growth markets including Spain, the Netherlands, the UK, France, Greece, Italy and Chile.

The DLA Piper UK-based team was led by European Head of Private Equity Tim Wright and Global Co-Chair of Energy and Natural Resources Natasha Luther Jones, and included Corporate partner Stephen Atkinson, senior associates Victoria Rhodes and Jeremy MacIver as well as associates James Croft and Simon Winterburn.

Commenting, Natasha Luther-Jones, said: “Supporting Solar Century on this multi-jurisdictional deal is another great demonstration of our market leading global renewables practice. It is fantastic to see the continued demand for renewable energy assets and investments post-COVID-19 demonstrating the increasing importance of the energy transition.”