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.