The assets, all operational with commercial operation dates (COD) spanning from 2001 to 2012 are located in the Norwegian price area NO3, with a close proximity to Locus Energy’s existing assets in the area. This geographical proximity between assets represents the company’s strategic cluster approach, allowing coordinated operations, shared resources, and optimized maintenance planning.
“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.” says Niklas Sörensen, CEO and founder of Locus Energy.
The Norwegian price area NO3 is one of the areas where electricity prices are anticipated to increase ahead due to strengthened grid infrastructure and stronger demand, which makes NO3 an attractive region for long-term investments in renewable electricity generation like hydropower.
“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.” says Elin Löfblad, Portfolio Manager at SEB Nordic Energy.
