Locus Energy, a portfolio company of SEB Nordic Energy, has acquired a hydropower portfolio with an annual generation capacity of 158 GWh, spanning across the Norwegian price zones NO2 to NO5. The acquired portfolio comprises both operational plants and projects currently under construction.
Once fully commissioned, the assets will bring Locus Energy’s total annual hydropower output to around 410 GWh. This acquisition enhances Locus Energy’s footprint in the Norwegian and broader Nordic energy markets, and especially helps the company to increase its asset density in Norway.
Locus Energy is a portfolio company of the Article 9 fund SEB Nordic Energy. With a portfolio compromising of hydro, wind, solar and battery storage, the company owns and develops small-scale energy generation infrastructure in the Nordic region. In September 2024, Locus Energy partnered with Ingrid Capacity to deploy battery energy storage systems (BESS) in southern Sweden. The collaboration aims to construct 13 new large-scale BESS across southern Sweden.
REGlobal’s Views: The recent deal complements Locus Energy’s already existing assets of hydropower, wind power and BESS and helps the company to optimise market participation. In addition, with a diverse technology basket of clean energy assets, the company can also manage renewable power intermittency more efficiently thereby getting a ‘system premium’ from these mix of assets.
