Wedoany.com Report-Oct. 11, Locus Energy, a portfolio company of SEB Nordic Energy, has acquired three small-scale hydropower plants in the Norwegian municipalities of Åfjord, Ørsta, and Vestnes. These acquisitions contribute approximately 15 GWh of annual renewable energy production, enhancing the company’s existing hydropower portfolio in Norway.

The plants, operational since 2001 to 2012, are situated in the NO3 price area, a region anticipated to experience rising electricity prices due to grid enhancements and increasing demand. Their proximity to Locus Energy’s current assets aligns with the company’s strategy of clustering operations to optimize coordination, resource sharing, and maintenance efficiency.

“By acquiring these three small-scale HPPs in NO3, we’re strengthening our operational presence in a strategically important region. The ability to co-locate assets and streamline operations and management makes these acquisitions a natural step in executing our ‘cluster strategy’ – enabling operational efficiencies and improving local responsiveness,” said Niklas Sörensen, CEO and founder of Locus Energy.

The acquisitions support Locus Energy’s goal of building a robust and scalable independent power producer (IPP) in the Nordic region. By integrating these hydropower plants, the company enhances its operational footprint while capitalizing on the region’s favorable market conditions for renewable energy investments.

“Expanding our hydropower portfolio in NO3 strengthens our financial resilience while advancing our broader pan-Nordic strategy. Hydropower remains the backbone of our portfolio, complemented by batteries and repowering of wind power across the Nordic markets. By combining reliable production with intermittent assets and storage, we are building a robust and scalable IPP,” said Elin Löfblad, Portfolio Manager at SEB Nordic Energy.

The strategic clustering of assets allows Locus Energy to improve operational efficiency, reduce costs, and enhance responsiveness to local energy needs. The NO3 price area’s expected growth in electricity demand positions these plants as valuable additions to the company’s portfolio, supporting both economic and environmental objectives.

This move reinforces Locus Energy’s commitment to sustainable energy production, leveraging hydropower’s reliability to complement other renewable sources like wind and battery storage. The acquisitions align with broader efforts to meet rising energy demands in the Nordic region while promoting clean energy solutions.

By expanding its presence in Norway, Locus Energy strengthens its role in the renewable energy sector, contributing to regional economic growth and the transition to a low-carbon energy system. The company’s focus on operational synergy and market responsiveness positions it for continued success in the evolving energy landscape.