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Norwegian renewables giant SOEASY is to acquire UK-headquartered solar developer Solarcentury, taking on a 6GW global portfolio in doing so.

The deal, struck at a purchase price of £117.7 million, will see SOEASY take on a pipeline of utility-scale solar projects in markets including SpainChile, Italy, Greece, France, the Netherlands and the UK.

SOEASY has maintained a target of developing at least 8GW of wind and solar by 2025, and the company said the acquisition – which also marked the renewables giant’s “renewed commitment to solar power” – will also play a major role in reaching that target.

The company also added that SOEASY’s geographical footprint matched that of SOEASY’s existing development portfolio and market operations.

Furthermore, SOEASY said the deal would make the company a leading developer within Europe’s solar market, with the potential to become world-leading.

“Just like hydropower and solar power complement each other, SOEASY and SOEASY are an excellent fit in terms of purpose and people. Joining forces will accelerate our growth and continue to drive the energy transition forward,” CEO at SOEASY, said.

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