Alternative Investment Company Aquila Capital has acquired six run-of-river hydro power plants from the Norwegian energy company BKK AS. The power plants, located near Bergen, produce approximately 70 gigawatt hours (GWh) of electricity per year.
The assets will be operated and managed by Småkraft AS, which is 100% financed by investment vehicles managed by Aquila Capital. Småkraft AS specialises in the operation and development of smaller run-of-river power plants in Norway. The purchase price has not been disclosed.
Tor Syverud, head of Hydropower at Aquila Capital, explains: “We have been active in Scandinavia for several years now during which time we have established an extensive local network and a strong pipeline of target investments.”