Report on the Divestment of Statkraft’s Canadian Renewables Portfolio and its Alignment with Sustainable Development Goals

Executive Summary

Statkraft has finalized an agreement to sell its Canadian renewable energy portfolio, Enerfín Canada, to Atlantica Sustainable Infrastructure Ltd. This strategic divestment includes operational assets, a development pipeline, and the associated workforce. The transaction underscores a commitment to several United Nations Sustainable Development Goals (SDGs), particularly in the areas of clean energy, sustainable infrastructure, economic growth, and climate action.

Transaction Details and Contribution to SDG 7: Affordable and Clean Energy

The sale encompasses the entirety of Statkraft’s Canadian operations acquired through the Enerfín transaction. This move ensures the continued operation and expansion of clean energy infrastructure, directly contributing to the objectives of SDG 7 (Affordable and Clean Energy).

Assets Included in the Sale

• Operational Capacity: Two wind farms with a total installed capacity of 236 MW. These assets are crucial for providing clean electricity to the grid.
• Development Pipeline: A portfolio of six wind and solar projects under development, totaling 0.8 GW. The advancement of this pipeline by Atlantica will significantly increase Canada’s renewable energy supply.
• Human Capital: The transfer of the experienced local team based in Alberta and Québec.

By transitioning these assets to a dedicated sustainable infrastructure firm, the agreement facilitates focused investment to expand access to affordable, reliable, and modern energy services.

Strategic Divestment and Support for SDG 9 and SDG 13

This sale represents the final step in Statkraft’s strategic divestment of Enerfín assets located outside its designated core markets of Spain and Brazil. The transaction allows Statkraft to consolidate its resources while ensuring the Canadian portfolio is managed by an entity capable of fostering its growth.

Alignment with Global Goals

1. SDG 9 (Industry, Innovation, and Infrastructure): The sale guarantees that critical renewable energy infrastructure will be maintained and expanded. Atlantica’s acquisition supports the development of resilient, sustainable infrastructure, a key target of SDG 9.
2. SDG 13 (Climate Action): The continued operation of 236 MW of wind power and the future development of an additional 0.8 GW of wind and solar capacity are direct actions to combat climate change and its impacts. This portfolio plays a vital role in strengthening resilience and adaptive capacity to climate-related hazards.

Socio-Economic Impact and Commitment to SDG 8: Decent Work and Economic Growth

A significant component of the agreement is the inclusion of the entire Enerfín Canada team. This decision highlights a commitment to sustainable business practices that extend beyond environmental concerns to include social and economic stability.

Key Impacts

• Job Security: The transfer of staff to Atlantica ensures continuity of employment for the skilled workforce in Montreal, Calgary, and Saint-Ferdinand.
• Economic Growth: By retaining local expertise, the transaction supports sustained and inclusive economic growth within Canada’s renewable energy sector, directly aligning with the principles of SDG 8 (Decent Work and Economic Growth).

Corporate Collaboration as a Vehicle for SDG 17: Partnerships for the Goals

The agreement between Statkraft and Atlantica Sustainable Infrastructure Ltd. serves as a model for SDG 17 (Partnerships for the Goals). It demonstrates how strategic corporate transactions can be leveraged to strengthen the implementation of sustainable development objectives.

This partnership ensures that valuable renewable energy assets are transferred to an owner well-positioned to maximize their potential, thereby accelerating progress towards a sustainable energy future. The transaction, expected to close before the end of 2025, reflects a shared vision for global energy transition and corporate responsibility.

Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 7: Affordable and Clean Energy
• SDG 9: Industry, Innovation, and Infrastructure
• SDG 13: Climate Action
• SDG 8: Decent Work and Economic Growth
• SDG 17: Partnerships for the Goals

What specific targets under those SDGs can be identified based on the article’s content?

1. SDG 7: Affordable and Clean Energy

   • Target 7.2: By 2030, increase substantially the share of renewable energy in the global energy mix. The article directly addresses this by discussing the sale and continued operation of renewable energy assets, including “two operating wind farms totalling 236 MW installed capacity” and a “0.8 GW portfolio of six wind and solar projects under development.” This transaction ensures the continued contribution and future growth of renewable energy.
   • Target 7.a: By 2030, enhance international cooperation to facilitate access to clean energy research and technology… and promote investment in energy infrastructure and clean energy technology. The article describes a transaction between Statkraft, a Norwegian company, and Atlantica Sustainable Infrastructure Ltd., an international entity, for renewable energy assets in Canada. This represents international investment and cooperation to grow clean energy infrastructure.

2. SDG 9: Industry, Innovation, and Infrastructure

   • Target 9.1: Develop quality, reliable, sustainable and resilient infrastructure. The entire subject of the article is the transfer of sustainable infrastructure assets, specifically “operating wind farms” and a “development portfolio” of wind and solar projects. The buyer’s name, “Atlantica Sustainable Infrastructure Ltd.,” explicitly reinforces this focus.
   • Target 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies. The development and operation of wind and solar power projects are prime examples of adopting clean and environmentally sound technologies to build sustainable infrastructure.

3. SDG 13: Climate Action

   • Target 13.2: Integrate climate change measures into national policies, strategies and planning. While not mentioning government policy, the article showcases corporate strategy focused on renewable energy. Statkraft’s role as “Europe’s largest generator of renewable energy” and Atlantica’s acquisition to “grow this business further” demonstrate private sector actions that are essential for achieving national and global climate goals.

4. SDG 8: Decent Work and Economic Growth

   • Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading and innovation. The renewable energy sector is a technologically advanced, high-value industry. The article states that the transaction includes “the experienced staff” and “the team,” ensuring job continuity and the retention of skilled labor in this innovative sector.

5. SDG 17: Partnerships for the Goals

   • Target 17.17: Encourage and promote effective public, public-private and civil society partnerships. The agreement between Statkraft and Atlantica is a significant private-private partnership. It facilitates the transfer of assets to an entity positioned to “grow this business further,” demonstrating a strategic partnership to advance the development of renewable energy.

Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

1. For Target 7.2 (Increase renewable energy share):

   • Indicator (Implied): Installed capacity of renewable energy generation. The article provides specific figures that can be used as indicators: “two operating wind farms totalling 236 MW installed capacity” and a “0.8 GW portfolio of six wind and solar projects under development.”

2. For Target 9.1 (Develop sustainable infrastructure):

   • Indicator (Implied): Investment in and number of new sustainable infrastructure projects. The article mentions “a 0.8 GW portfolio of six wind and solar projects under development,” which serves as a direct indicator of new sustainable infrastructure being planned.

3. For Target 8.2 (Promote economic productivity and decent work):

   • Indicator (Implied): Number of jobs maintained in high-value sectors. The article’s mention that the sale includes “the team” and “the experienced staff” implies the preservation of jobs in the renewable energy sector, which can be quantified as an indicator.

Table of SDGs, Targets, and Indicators

Source: globenewswire.com