Norwegian power producer Statkraft AS took full control of electric vehicle charging company Grønn Kontakt, after buying Agder Energi Venture AS' 47.5% stake in the business.
The takeover brings Statkraft's ownership of Grønn Kontakt to 96%, the company said Dec. 19, adding that the remaining shareholders will be "offered to sell their shares."
Statkraft, which has been a Grønn Kontakt shareholder since 2012, said it is now looking at growing the company's network of fast chargers across Norway. "Norway is among the world's most mature markets for electric vehicle charging, and Grønn Kontakt is in a leading position, with ten years of experience in this market," Statkraft said.
Statkraft also owns German charging company E-Wald GmbH and is a majority shareholder of eeMobility GmbH. The company said it is also evaluating activities in the U.K.
"Electric vehicles will change the power industry in Europe, and to achieve an emission free transport sector, renewable energy must be used to charge electric vehicles," Statkraft President and CEO Christian Rynning-Tønnesen said.