Renewable energy powerhouse Statkraft acquires electric vehicle charging business

Key Points
  • At the moment, German firm E-Wald operates roughly 300 charging stations.
  • Statkraft is the latest major business to take an interest in the electric charging sector.
Carolyn Hebbard | Moment | Getty Images

Norway's state-owned energy business Statkraft has acquired E-Wald GmbH, a German electric vehicle charging firm.

In an announcement Friday, Statkraft said the deal strengthened its position in both the German and European electric vehicle (EV) charging sector. In 2018, the Oslo-headquartered business became a majority shareholder in eeMobility, another German EV charging company. The cost of the E-Wald acquisition was not disclosed in Statkraft's announcement.

"E-Wald is well placed for growth within fast charging in Germany," Bjorn Holsen, senior vice president for New Business at Statkraft, said in a statement. At the moment, E-Wald operates roughly 300 charging stations and also offers leasing services for around 100 fleet cars.

A major player in hydropower, Statkraft also has interests in wind energy and solar, among other things. It is the latest major business to take an interest in the electric charging sector.

In 2018, oil giant BP acquired EV charging business Chargemaster. Now known as BP Chargemaster, it recently installed two 150 kilowatt (kW) ultra-fast chargers at a BP site near Heathrow Airport, London. In June, the firm said it expected the 150 kW chargers to provide roughly 100 miles of range in 10 minutes.