APG has invested a further €250 million in hydropower company Småkraft for pension fund ABP, bringing its total investment in the company to €550 million following two previous investment deals.

The extra funds will enable Småkraft to expand its portfolio of hydropower plants in Norway and build ten new, small-scale hydropower plants. With 110 operational plants, the Norwegian company is the biggest operator of small hydropower plants in Europe, with a current production of nearly 1.2 TWh a year.

Aquila Capital is a partner in this transaction, tracking Småkraft’s financial and operational policy on a daily basis and providing support where needed, said Viktor Filipan, portfolio manager of infrastructure at APG.