Locus Energy, a portfolio company of SEB Nordic Energy, has acquired a 158GWh hydropower portfolio located across Norwegian price areas NO2 to NO5. The acquisition includes a mix of operational assets and assets under construction, which will contribute 158GWh annually once all assets reach commercial operation. Following the transaction, Locus Energy’s total hydropower generation will amount to approximately 410GWh per year.
The company said the acquisition strengthens its position as an independent power producer (IPP) in the Nordic region, adding to its existing wind, hydro, and battery energy storage system (BESS) assets across Norway, Sweden, and Finland.
“We are very pleased with the outcome of this transaction and the professional, constructive process with Locus Energy,” said Rein Husebø, Managing Director of Forte Vannkraft. “They bring both deep market insight and a long-term commitment to value creation, which made them an ideal buyer for these assets.”
Locus Energy said the acquisition increases its renewable energy footprint and improves asset density in Norway.
“The addition of reliable hydropower generation reinforces Locus Energy’s long-term strategy with a solid cash flow profile. By expanding strategically within the Nordics and leveraging synergies across technologies and geographies, the company is building a scalable, resilient platform with long-term value potential. We are excited to support the next growth phase,” said Richard Gavel, Portfolio Manager at SEB Nordic Energy.
The hydropower portfolio complements Locus Energy’s existing mix of hydropower, wind power, and storage assets. By diversifying renewable asset classes within the same price areas, the company aims to optimize market participation, manage intermittency, and generate what it describes as a “system premium” that goes beyond standalone asset performance. Locus Energy said it has identified additional growth opportunities in the current market and expects continued expansion through 2025.
“This acquisition is a strategic step towards building a geographically balanced, technologically diversified, and financially optimized renewable portfolio. With hydropower, wind power and storage assets now strategically positioned across Nordic price areas, we are unlocking a system premium that reinforces our competitive edge across the Nordic power market,” said Niklas Sörensen, Founding Partner and CEO of Locus Energy.
