Europe’s largest renewable energy generator, Statkraft, has acquired a 50 per cent stake in the German energy retailer Enqu, as it forges an increasing interest in decentralized energy.
The Norwegian state-owned utility’s move marks its first entry into the German energy retail market.
Torsten Amelung, Statkraft senior vice president new markets, said the move is part of the company’s growth strategy in decentralised energy services and end-customer business.
The parties unveiled the deal last week, without disclosing a price, and are awaiting antitrust approval.
According to the announcement, in the medium term the business could offer services in the area of decentralised energy supply such as solar panels, batteries and e-mobility solutions. In the future, the aim of the partnership is to grow in the German retail business and reach medium and larger commercial customers.
Statkraft said it will support Enqu’s further growth. Enqu managing director Joachim Schwarten commented that the move is essential to the company’s growth prospects.
“We have been planning a comprehensive re-launch of our services for a long time,” Schwarten said.
“Despite our strong expertise in the energy business and related processes, it isn’t easy for a small company to reach commercial customers and facilitate rapid growth. In the partnership with