German investment company Aquila Capital (
www.aquila-capital.de) has acquired six run-of-river hydro-power plants in Norway from energy company BKK for an undisclosed sum.
Located near Bergen, the six plants have a combined output of about 70GW, which is enough for about 3,500 households.
Aquila Capital CEO and co-founder Roman Rosslenbroich said: “Run-of-river plants have an efficiency factor exceeding 90%, which is among the best conversion efficiencies of all energy sources, and they use proven technology that can produce energy for many decades, if well maintained.”
The plants will be operated and managed by Småkraft, which is financed by investment vehicles managed by Aquila Capital. “By integrating the newly acquired plants into the portfolio managed by Småkraft, we can ensure very low operating costs.
“The Nordic region is highly suitable for hydro-power investments, with a large number of run-of-river power plants, a mature renewable-energy sector, and a stable legal framework.”