Renewable

August 18 (Renewables Now) - Swiss green power producer Aventron AG has agreed to combine its small-scale hydropower portfolio in Norway with that of asset manager Aberdeen Standard Investments (ASI) into a new entity that also holds wind power assets.

The two parties have contributed to a new firm a total of 41 small hydro plants, of which just one is currently being built, one operational wind farm and another one under construction.

The joint venture is called Aventron Norway AS and will be majority-owned by the Swiss power producer, while ASI will hold a substantial minority with governance rights through its first infrastructure fund, SL Capital Infrastructure I LP. The JV’s total portfolio is expected to reach a total annual production capacity of around 460 GWh once all projects become operational.

Aventron noted that this merger provides geographical diversity, operational synergy potential and further de-risks the business.

“The Norwegian small hydro market is the most competitive in Europe with practically no government subsidies available,” said Antoine Millioud, CEO of Aventron, adding that the transaction helps the firm to improve its potential to reduce generation costs and optimise the energy sales side.

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