Aquila Capital acquires Småkraft AS
11.11.2015 10.00 | pressrelease
Germany based Aquila Capital has agreed to acquire Småkraft AS, Norway’s largest operator of small-scale hydropower plants, from owners Statkraft, Agder Energi, BKK, and Skagerak Energi.
Småkraft AS is Norway’s largest developer and operator of small-scale hydropower plants. Established in 2002, the company has successfully developed and commissioned 45 hydropower stations and currently have 15 projects under construction and more than 100 projects under development. The Småkraft portfolio that Aquila Capital acquires has a total average annual power generation of over 500 GWh. Aquila Capital acquires the portfolio of operating plants, as well as a considerable project development portfolio led by a strong operational organisation. The transaction will be completed by the end of 2015.
Aquila Capital is an established investor in the Norwegian hydropower sector through its ownership in small-scale hydropower company Norsk Grønnkraft AS (100%), Tinfos AS (36%) and Jørpeland Kraft AS (33%). The latest investment in Småkraft AS further expands Aquila Capital’s position within small scale hydropower in Norway.
Småkraft’s concept for developing small-scale hydropower plants in cooperation with land owners is based on the Norwegian legislation on private ownership to waterfall rights. The company leases the waterfall rights from the landowner, while the landowner has the rights to take over the power plant after the lease period. The landowners’ long term ownership to the waterfall resources, and all commercial agreements between Småkraft AS and the land owners remain unchanged under the new ownership.
The current owners of Småkraft are very pleased with Aquila Capital’s acquisition of the company. The divestment releases capital that the former owners can invest in other business activities, and confirms the value created by Småkraft and its former owners.
For more information, please contact:
Aquila Capital: Julia Omeed, Manager Corporate Communications,
email@example.com; Tel. +49 40 55 56 53 125
Agder Energi: Christian Altmann, Communications Manager,
firstname.lastname@example.org Tel. +47 90 96 85 41
BKK: Wenche Teigland, Executive Vice President,
email@example.com, Tel. +47 480 96 723
Skagerak Energi: Thor Bjørn Omnes, Communications Manager,
firstname.lastname@example.org, tlf: +47 957 67 947
Statkraft: Knut Fjerdingstad, Press Spokesperson,
email@example.com, Tel. +47 90 18 63 10