Locus Energy acquires 158GWh hydropower portfolio in Norway
Locus Energy, a portfolio company of SEB Nordic Energy, has acquired a 158 gigawatt hours (GWh) hydropower portfolio across Norwegian price areas NO2 to NO5.
The acquisition enhances its standing in the Norwegian and Nordic energy markets.
The newly acquired portfolio comprises both operational assets and those under construction.
The assets will enhance Locus Energy’s hydro power portfolio by 158GWh annually, bringing its total hydro generation capacity to 410GWh per year.
The strategic acquisition aligns with Locus Energy’s broader vision of becoming a pan-Nordic independent power producer with diversified interests in wind, hydro and battery energy storage systems (BESS) across Norway, Sweden and Finland.
SEB Nordic Energy portfolio manager Richard Gavel stated: “The addition of reliable hydropower generation reinforces Locus Energy’s long-term strategy with a solid cash flow profile. By expanding strategically within the Nordics and leveraging synergies across technologies and geographies, the company is building a scaleable, resilient platform with long-term value potential. We are excited to support the next growth phase.”
Locus Energy aims to optimise market participation by diversifying renewable asset classes within the same price areas.
The company intends to manage intermittency effectively and generate a system premium that surpasses the performance of standalone assets.
Locus Energy has identified multiple opportunities for continued growth in current markets for 2025.
Locus Energy founding partner and CEO Niklas Sörensen stated: “This acquisition is a strategic step towards building a geographically balanced, technologically diversified, and financially optimised renewable portfolio. With hydropower, wind power and storage assets now strategically positioned across Nordic price areas, we are unlocking a system premium that reinforces our competitive edge across the Nordic power market.”
In September 2024, Locus Energy partnered Ingrid Capacity to deploy 196MW of BESS capacity in southern Sweden.
“Locus Energy acquires 158GWh hydropower portfolio in Norway” was originally created and published by Power Technology, a GlobalData owned brand.
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