Subscribe to our free daily newsletters
  Energy News  

Subscribe to our free daily newsletters

Aquila Capital to merge Norway's Smakraft and Norsk Gronnkraft
by Staff Writers
London, UK (SPX) Dec 07, 2016

File image.

Aquila Capital has reinforced its commitment to Norway by planning to merge Smakraft and Norsk Gronnkraft (NGK), to create the leading operator in the country's hydropower market and the largest operator of small-scale hydropower plants in Europe.

The merger, which is expected to be effective from January 2017, reflects Aquila Capital's active asset management approach and underlines the company's ambition for the expansion of its renewable energy portfolio in Norway. The two companies are wholly financed by Aquila Capital's investment vehicles, including its dedicated European Hydropower Fund[1] as well as that of the Dutch partner APG, the asset manager of ABP, one of Europe's largest pension funds investing in hydropower assets.

The newly created entity will be known as Smakraft and consist of 90 hydropower plants in operation with an annual production of just under 1 TWh. Simultaneously, a separate company, Smakraft Utbygging, will be formed to solely focus on the construction and rehabilitation of small-scale hydropower plants.

Sigbjorn Rabbe, Head of Operations at Smakraft AS, said: "Aquila Capital is committed to sustainable operations and growth in the Norwegian hydropower market. As well as the obvious natural resources in the country there is a deep pool of local expertise to manage the plants, which we use at every opportunity.

"We are determined to build the trust of local communities, adding value and ensuring the highest standards of safety and respect for the environment while at the same time recognising the landowner's rights."

Oldrik Verloop, Managing Director at Aquila Capital and Board Member at Smakraft, added: "The merger is the next logical step to further consolidating our existing hydropower operations in Norway.

"Also, with the formation of a dedicated hydropower construction firm we aim to build five to ten plants every year and with that contribute to increasing the share of renewables in the European energy mix. We are confident that Smakraft will be one of the leading hydropower players in Europe and these developments underline our interest and engagement in the sector."

Michaela M. Eder von Grafenstein, Head of Investment Management Real Assets at Aquila Capital, commented: "The merger comes at a time when institutional investors' interest in renewable energy is increasing significantly.

"Our scale, expertise and extensive field of contacts mean we are the go-to partner in Norway's hydropower sector. We are looking forward to contributing to the further growth of renewable energy in Norway."

To date Aquila Capital manages over 100 hydropower plants with an installed capacity of approximately 400 MW.

Comment on this article using your Disqus, Facebook, Google or Twitter login.

Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once

credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly

paypal only


Related Links
Norsk Gronnkraft

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Previous Report
China power plant collapse kills at least 22: Xinhua
Beijing (AFP) Nov 24, 2016
At least 22 people were killed when part of a power station under construction in China collapsed Thursday, the official Xinhua news agency reported, the latest industrial accident in a country with a dismal safety record. A cooling tower platform plunged to the ground in the early hours, trapping an unknown number of people beneath it, Xinhua said. Rescue efforts were under way. Pictur ... read more

China power plant collapse kills at least 22: Xinhua

Climate: Four nations map course to carbon-free economies

Study: LED lights draw fewer insects

Shifting focus leaves mixed bag for German utility RWE

Delivering a power punch

Quantum obstacle course changes material from superconductor to insulator

New process produces hydrogen at much lower temperature

Physicists spell 'AV' by manipulating Abrikosov vortices

Ireland gets a bit greener with funding from Europe

New York to bid in Federal Offshore Wind Auction

Owl-inspired wing design reduces wind turbine noise by 10 decibels

DONG Energy sets wind energy sights on Taiwan

Ultrathin protective layer brings quite a bit more stability to perovskite solar cell

Game changer for organic solar cells

Simple processing technique could cut cost of organic PV and wearable electronics

EU on track to meet 2020 target for renewable energy: report

Fukushima costs to double to nearly $180 bn: report

'Diamond-age' of power generation as nuclear batteries developed

Nuclear energy: who's advancing and who's retreating

Swiss reject speedy nuclear phaseout

Investing in the 'bioeconomy' could create jobs and reduce carbon emissions

Argonne researchers study how reflectivity of biofuel crops impacts climate

UNIST researchers turn waste gas into road-ready diesel fuel

NextCoal to produce bio-coal for export to Japan, bio-oil for domestic use

China launches 4th data relay satellite

Material and plant samples retrieved from space experiments

Chinese astronauts return to earth after longest mission

China completes longest manned space mission yet

World mayors gather to plot Trump-era climate plan

How did the Sahara Desert get so dry?

Climate model predictions are telling a consistent story

Huge reduction in African dust plume impacted climate 11,000 years ago

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement