Locus Energy, a portfolio company of SEB Nordic Energy, has acquired three stand-alone small-scale hydropower plants in the Norwegian municipalities of Åfjord, Ørsta, and Vestnes. The acquisitions add about 15 GWh of annual renewable energy production to the company’s existing Norwegian portfolio.
The plants, which began operations between 2001 and 2012, are located in the NO3 price area. Their proximity to Locus Energy’s existing assets supports the company’s strategy of clustering hydropower operations to improve coordination, share resources, and streamline maintenance.
“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,” said Niklas Sörensen, CEO and founder of Locus Energy.
The NO3 price area is expected to see rising electricity prices due to grid improvements and growing demand, making it an attractive region for renewable energy investment.
“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,” added Elin Löfblad, Portfolio Manager at SEB Nordic Energy.
