Is Canada becoming the next big frontier for clean energy investments? Atlantica Sustainable Infrastructure seems to believe so. In a strategic move, the company has announced the acquisition of a 75.96% stake in a nearly 1 GW renewable energy portfolio from Statkraft, significantly enhancing its presence in North America. This blog unpacks the strategic motivations behind the deal, the key assets involved, and how this transaction fuels Atlantica’s long-term growth strategy.

Strategic Shift and Portfolio Power
This acquisition reflects more than just expansion—it signals Atlantica’s sharpened focus on high-quality, revenue-generating renewable assets in North America. The deal includes a 51% stake in the operational 100 MW L’Erable wind facility in Quebec and full ownership of a 136.4 MW wind asset in Alberta, identified as the Winnifred wind project. Both assets are secured with long-term power purchase agreements (PPAs), providing cash flow stability with an average contract life of 15 years. While Statkraft, through its subsidiary Enerfin, had acquired the portfolio just over a year ago, this transaction marks their strategic retreat from non-core markets, while propelling Atlantica deeper into Canada’s renewables sector.

A Pipeline of Possibility
Beyond the operational assets, the deal is a treasure trove of future potential. Atlantica now controls a development pipeline of 0.8 GW across solar, wind, and storage—spanning several Canadian provinces. Adjusted for Atlantica’s equity stake, this equates to about 0.6 GW of clean energy projects in the works. Included are the 60 MW Winnifred solar project co-located with the wind facility in Alberta and 538 MW of wind and 260 MW of solar developments elsewhere in Canada. The integrated local team joining Atlantica will be instrumental in navigating regulatory approvals and driving these projects to commercial success.

Driving Forward with Vision and Value
For Atlantica, this platform acquisition is a strategic enabler—aligning with its ambition to grow sustainably in key geographies while enhancing operational resilience. With advisory from Lazard and conditions such as Competition Act approval pending, the transaction is expected to close by the end of 2025. The seamless integration of seasoned Canadian energy professionals adds strength to Atlantica’s North American operations and promises efficient execution of its expanding project pipeline. This move exemplifies how smart capital deployment and market timing can translate into long-term value creation in the renewable sector.

Conclusion
Atlantica’s latest acquisition from Statkraft is more than a portfolio play—it’s a strategic leap into the heart of Canada’s renewable future. With a blend of operational security and growth-ready projects, the deal cements Atlantica’s position as a key player in the North American clean energy transition.

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