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Norway Investor Aker Secures Wind, Hydropower Deals

OSLO, Jan 27 (Reuters) - Norwegian investment firm Aker , whose energy portfolio has mainly focused on oil and gas, has secured two new renewable deals, one involving offshore wind and the other hydropower.

Its Aker Offshore Wind and Aker Horizons companies have signed a cooperation agreement with Norwegian state-owned energy group Statkraft to examine offshore wind opportunities in Norway, after the country opened two North Sea areas for wind farms.

“The companies will establish an integrated project team, 50/50 split between Aker Offshore Wind and Statkraft, for joint preparation and submission of an acreage application and further development activities,” Statkraft said in a statement.

The move marks Statkraft’s return to a market it left in 2017, saying at the time it did not have the financial capacity.

Aker Horizons also said it would add hydropower to its portfolio of renewables by acquiring Rainpower Holding AS, a supplier to the hydropower industry.

“Aker Horizons will use Rainpower as a platform to build a next generation technology company to optimise hydropower developments and operations,” Aker Horizons said, adding it would provide 100 million crowns ($11.69 million) in capital.

Last week, Aker Horizons acquired a 75% stake in Mainstream Renewable Power in a deal valuing the wind and solar company at up to 1 billion euros ($1.21 billion).

$1 = 8.5571 Norwegian crowns

Reporting by Gwladys Fouche; Editing by Edmund Blair

Source: Reuters


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