SEB NORDIC ENERGY’S PORTFOLIO COMPANY LOCUS ENERGY CONTINUES TO BUILD ITS NORWEGIAN HYDROPOWER PORTFOLIO THROUGH THE ACQUISITION OF THREE STAND-ALONE HYDROPOWER ASSETS IN THE NO3 PRICE AREA

During the spring of 2025, SEB Nordic Energy’s portfolio Company Locus Energy has acquired three stand-alone small-scale hydropower plants in the municipalities of Åfjord, Ørsta and Vestnes, contributing approximately 15 GWh of annual renewable energy production to the company’s existing Norwegian portfolio.

The assets, all operational with commercial operation dates (COD) spanning from 2001 to 2012 are located in the Norwegian price area NO3, with a close proximity to Locus Energy’s existing assets in the area. This geographical proximity between assets represents the company’s strategic cluster approach, allowing coordinated operations, shared resources, and optimized maintenance planning.

“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.” says Niklas Sörensen, CEO and founder of Locus Energy.

The Norwegian price area NO3 is one of the areas where electricity prices are anticipated to increase ahead due to strengthened grid infrastructure and stronger demand, which makes NO3 an attractive region for long-term investments in renewable electricity generation like hydropower.

“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.” says Elin Löfblad, Portfolio Manager at SEB Nordic Energy.

SEB Nordic Energy is focusing on direct investments in renewable energy infrastructure assets in the Nordic region. Investments are being made in small-scale hydropower, wind power, solar energy and geothermal energy, both through new construction and through upgrading of existing facilities to increase efficiency and energy production. The fund is open to professional investors with an investment horizon of more than 15 years and is a so-called Article 9 fund with sustainable investments as its objective. SEB Nordic Energy | SEB (sebgroup.com)

Locus Energy is a portfolio company of the Article 9 fund SEB Nordic Energy with access to Nordic institutional capital. Locus Energy invests in assets for sustainable local energy production that can be upgraded with new technology to accelerate development and is currently present through direct investments in all Nordic price areas. www.locus.energy

For further information, please contact:
Niklas Sörensen, CEO, Locus Energy, niklas@locus.energy +46 70 268 97 35
Elin Löfblad, Portfolio manager, SEB Nordic Energy, elin.lofblad@seb.se + 46 70 739 29 86