Norwegian energy giant Statkraft has bought a 47.5% interest in electric vehicle (EV) charging company Grønn Kontakt.
It bought the stake from Agder Energi, giving Statkfraft full control of the Norwegian firm, which has been in the market for 10 years.
Statkraft has been co-owner of Grønn Kontakt since 2012 and the latest investment increase its shareholding to nearly 96%.
The remaining shareholders will be offered to sell their shares.
Grønn Kontakt has more than 230 fast charging stations across Norway, from Mandal in the south, to Tromsø in the north.
Christian Rynning-Tønnesen, President and CEO of Statkraft said: “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.
“It is time to further develop Norway’s and Grønn Kontakt’s strong position and to use our expertise and our competitive advantage to drive the electrification of the transport sector forward.”