Norwegian state-run power company Statkraft has acquired four wind power project companies, three of which located in the United Kingdom (UK) and one in Ireland (Element Power Ireland). The acquisition comprises wind park projects currently under development in Ireland (1,300 MW) and the UK (250 MW) and fits into Statkraft's plans to ramp up its wind power portfolio to 6 GW by 2025 and to become a significant player in the Irish energy market. The transaction was completed on 2 October 2018 and includes 100% of the shares in Element Power's Irish and UK subsidiaries, excluding Greenlink Interconnector Limited (operating the 500 MW Greenlink subsea interconnector project).
Statkraft already owns and operates 11 wind parks in the United Kingdom and the Nordic countries, with a combined installed capacity of almost 1,000 MW. In addition, Statkraft owns a majority stake in the 1,056 MW Fosen Vind wind project under construction in Norway, which is one of Europe's largest onshore wind power projects.