Aquila Capital has expanded its partnership with Dutch pension investor APG in European hydropower by €250 million ($270 million) to €550 million ($596 million).
The investment will facilitate the expansion of Norwegian-based Småkraft AS, the largest operator of small-scale hydropower plants in Europe. It currently has 110 operational plants, producing nearly 1.2 terawatt hours (TWh) of electricity annually. In late 2018, the company announced its plans to expand in order to produce 2 TWh annually through new run-of-river plants and the acquisition of existing plants. The investment will support Småkraft’s aim of building 10 new small hydropower plants each year.
“Our local management and on-site teams are specialized on developing hydro plants,” said Tor Syverud, head of hydropower at Aquila Capital. “The small hydropower sector is attractive to investors due to the long-term nature of the assets, the technological robustness and its sustainability crede
