Wedoany.com Report-Apr. 29, Locus Energy, a portfolio company of SEB Nordic Energy, has acquired a 158 gigawatt-hours (GWh) hydropower portfolio across the Norwegian price areas NO2 to NO5. This acquisition strengthens Locus Energy’s position in both the Norwegian and Nordic energy markets.

This strategic acquisition aligns with Locus Energy’s broader vision of becoming a pan-Nordic independent power producer.

The acquired portfolio includes both operational assets and those under construction. This addition will boost Locus Energy’s annual hydro power generation capacity by 158 GWh, bringing the company’s total hydro capacity to 410 GWh per year.

This strategic acquisition aligns with Locus Energy’s broader goal of becoming a pan-Nordic independent power producer, with diverse interests in wind, hydro, and battery energy storage systems (BESS) across Norway, Sweden, and Finland.

Richard Gavel, portfolio manager at SEB Nordic Energy, stated: “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.”

Locus Energy plans to optimize its market participation by diversifying renewable asset types within the same price areas. The company aims to manage intermittency effectively and generate a system premium that exceeds the performance of standalone assets.

Locus Energy has identified several growth opportunities in its current markets for 2025. Niklas Sörensen, founding partner and CEO of Locus Energy, remarked: “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.”

In September 2024, Locus Energy also partnered with Ingrid Capacity to deploy 196 MW of BESS capacity in southern Sweden, further expanding its presence in the renewable energy sector.