Locus Energy acquires 158GWh hydropower portfolio in Norway, expanding presence in Nordic markets.

From Yahoo Finance: 2025-04-28 05:15:00

Locus Energy, backed by SEB Nordic Energy, acquires a 158GWh hydropower portfolio in Norwegian price areas NO2 to NO5, boosting its presence in the Norwegian and Nordic energy markets with both operational and under-construction assets.

The acquisition will increase Locus Energy’s annual hydro power generation by 158GWh, totaling 410GWh per year, aligning with its goal of becoming a pan-Nordic independent power producer in wind, hydro, and battery energy storage systems.

SEB Nordic Energy portfolio manager Richard Gavel emphasizes the strategic value of reliable hydropower generation in reinforcing Locus Energy’s long-term strategy, building a scalable platform with potential for long-term value growth.

Locus Energy plans to optimize market participation by diversifying renewable asset classes within the same price areas, effectively managing intermittency to generate a system premium exceeding standalone asset performance.

CEO Niklas Sörensen highlights the strategic importance of the hydropower acquisition in building a balanced, diversified, and financially optimized renewable portfolio across Nordic price areas, enhancing competitiveness in the Nordic power market.

In a separate partnership with Ingrid Capacity, Locus Energy deployed 196MW of BESS capacity in southern Sweden in September 2024, further expanding its renewable energy footprint in the region.

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