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Aventron and Aberdeen Standard Investments join forces

Posted on 11 Sep 2021 and read 319 times
Aventron and Aberdeen Standard Investments join forcesAventron AG and Aberdeen Standard Investments have agreed to merge their small-scale hydropower portfolios to create Norway’s third-largest small-scale hydro operator. Aventron and ASI’s combined business will focus on the development, construction, production and distribution of renewable energy through hydropower as well as wind power in Norway.

The combined portfolio comprises 41 small-scale hydro power plants (including one plant under construction), as well as an operational wind farm and a further wind farm under construction. The group also benefits from a ‘strong pipeline’ of small-scale hydro and wind projects. Annual production capacity is expected to reach about 460GWh once all projects are fully operational.

The hydropower sector in Norway is one of the most developed in the world and benefits from significant development and consolidation potential. With Aventron’s assets mostly located in south Norway and ASI’s assets primarily based in the north of the country, the two portfolios are ‘highly complementary’.

The merger is said to provide geographical diversity, operational synergy potential and further de-risks the business by ‘enhancing the long-term competitive position of the joint company’.

It has been achieved through a contribution in kind, with Aventron becoming the majority shareholder of the joint entity — Aventron Norway AS. ASI through its first infrastructure fund, SL Capital Infrastructure I LP, will hold a substantial minority position with governance rights.