Norwegian renewable energy producer Statkraft has acquired the German and French wind power portfolio with an installed capacity of 346MW from Breeze Three Energy.

The financial terms of the deal were not disclosed.

Included in the deal are 43 onshore wind farms, of which 39 are in Germany, while the other four are in France.

In Germany, the company has gained an installed capacity of 311MW with wind farms located in nine states.

With a total of 187 turbines, the German portfolio produces an average annual production of nearly 463GWh. The age of the wind farms is in the range of 13 and 22 years.

In France, the acquired portfolio has a total capacity of 35MW from 16 wind turbines. The French wind farms produce an average annual yield of nearly 60GWh. Their age varies between 13 and 14 years.

Statkraft said that the deal marks its market entry as an owner of a wind farm portfolio in the two countries.

Besides, the Norwegian state-owned hydropower company said that the acquisition aligns with its strategy to ramp up as a wind and solar developer and become one of the major renewable energy firms in the world.

The company already has a presence in the European solar market following its acquisition of Solarcentury in 2020.

Statkraft European wind and solar EVP Birgitte Ringstad Vartdal said: “Statkraft has an ambition to grow further within hydropower, wind and solar power. We aim to be a major wind and solar developer with a development rate of 2.5 to 3 gigawatts per year towards 2025.

“Today’s acquisition further strengthens our role as a key renewables player in Europe and gives us the ability to further grow our portfolio in Germany and France.”

Last month, the Norwegian firm announced the sale of the 36MW Andershaw Wind Farm in Scotland to Greencoat UK Wind for £121m.