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Downing has acquired 6 GWh Norwegian hydro plant in £3m deal
11/1/23
5 min
Renewable energy
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Investment manager Downing LLP is expanding its focus on sustainable investing with a c.£3 million acquisition of Norwegian hydro power plant Lauvstad Kraftverk AS.
The renewable energy and infrastructure arm of Downing Estate Planning Service has acquired 100% of Lauvstad Kraftverk AS from Fossberg Kraft AS, which has developed the c.6 GWh hydro power plant in the Drangedal region of southern Norway.
Downing had already paid 20% of the purchase price to the project’s developer to part fund construction and the balance was paid at completion.
The latest deal builds on a series of investments made by Downing in the Nordic region, including its first investment in Finland in 2022- in addition to a number of hydropower assets in Norway through its partnership with Fossberg Kraft AS.
Tom Williams, Head of Energy & Infrastructure at Downing, said: “The Lauvstad hydropower plant acquisition has represented an excellent opportunity to further expand our investment allocations in hydropower and the Nordic region.
“Financing newbuilt hydro in the Nordic region is an important part of our strategy as we look to continuously diversify our portfolio by both geography and technology. By acquiring a hydropower plant that has recently been constructed, we have also diversified our investment portfolio further by project phase. We look forward to continuing our excellent relationship with Fossberg Kraft AS to further expand our Norwegian hydropower portfolio.
“As a certified B Corp, we are committed to responsible investing and delivering on the strategy. We look forward to adding further attractive projects to our portfolio in due course.”
Downing’s Energy and Infrastructure team has made more than 175 investments and has c.£785 million of assets under management- consisting of solar, wind, hydro and battery storage technology.
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Investment manager Downing LLP is expanding its focus on sustainable investing with a c.£3 million acquisition of Norwegian hydro power plant Lauvstad Kraftverk AS.
The renewable energy and infrastructure arm of Downing Estate Planning Service has acquired 100% of Lauvstad Kraftverk AS from Fossberg Kraft AS, which has developed the c.6 GWh hydro power plant in the Drangedal region of southern Norway.
Downing had already paid 20% of the purchase price to the project’s developer to part fund construction and the balance was paid at completion.
The latest deal builds on a series of investments made by Downing in the Nordic region, including its first investment in Finland in 2022- in addition to a number of hydropower assets in Norway through its partnership with Fossberg Kraft AS.
Tom Williams, Head of Energy & Infrastructure at Downing, said: “The Lauvstad hydropower plant acquisition has represented an excellent opportunity to further expand our investment allocations in hydropower and the Nordic region.
“Financing newbuilt hydro in the Nordic region is an important part of our strategy as we look to continuously diversify our portfolio by both geography and technology. By acquiring a hydropower plant that has recently been constructed, we have also diversified our investment portfolio further by project phase. We look forward to continuing our excellent relationship with Fossberg Kraft AS to further expand our Norwegian hydropower portfolio.
“As a certified B Corp, we are committed to responsible investing and delivering on the strategy. We look forward to adding further attractive projects to our portfolio in due course.”
Downing’s Energy and Infrastructure team has made more than 175 investments and has c.£785 million of assets under management- consisting of solar, wind, hydro and battery storage technology.
Share
Investment manager Downing LLP is expanding its focus on sustainable investing with a c.£3 million acquisition of Norwegian hydro power plant Lauvstad Kraftverk AS.
The renewable energy and infrastructure arm of Downing Estate Planning Service has acquired 100% of Lauvstad Kraftverk AS from Fossberg Kraft AS, which has developed the c.6 GWh hydro power plant in the Drangedal region of southern Norway.
Downing had already paid 20% of the purchase price to the project’s developer to part fund construction and the balance was paid at completion.
The latest deal builds on a series of investments made by Downing in the Nordic region, including its first investment in Finland in 2022- in addition to a number of hydropower assets in Norway through its partnership with Fossberg Kraft AS.
Tom Williams, Head of Energy & Infrastructure at Downing, said: “The Lauvstad hydropower plant acquisition has represented an excellent opportunity to further expand our investment allocations in hydropower and the Nordic region.
“Financing newbuilt hydro in the Nordic region is an important part of our strategy as we look to continuously diversify our portfolio by both geography and technology. By acquiring a hydropower plant that has recently been constructed, we have also diversified our investment portfolio further by project phase. We look forward to continuing our excellent relationship with Fossberg Kraft AS to further expand our Norwegian hydropower portfolio.
“As a certified B Corp, we are committed to responsible investing and delivering on the strategy. We look forward to adding further attractive projects to our portfolio in due course.”
Downing’s Energy and Infrastructure team has made more than 175 investments and has c.£785 million of assets under management- consisting of solar, wind, hydro and battery storage technology.
Share
Investment manager Downing LLP is expanding its focus on sustainable investing with a c.£3 million acquisition of Norwegian hydro power plant Lauvstad Kraftverk AS.
The renewable energy and infrastructure arm of Downing Estate Planning Service has acquired 100% of Lauvstad Kraftverk AS from Fossberg Kraft AS, which has developed the c.6 GWh hydro power plant in the Drangedal region of southern Norway.
Downing had already paid 20% of the purchase price to the project’s developer to part fund construction and the balance was paid at completion.
The latest deal builds on a series of investments made by Downing in the Nordic region, including its first investment in Finland in 2022- in addition to a number of hydropower assets in Norway through its partnership with Fossberg Kraft AS.
Tom Williams, Head of Energy & Infrastructure at Downing, said: “The Lauvstad hydropower plant acquisition has represented an excellent opportunity to further expand our investment allocations in hydropower and the Nordic region.
“Financing newbuilt hydro in the Nordic region is an important part of our strategy as we look to continuously diversify our portfolio by both geography and technology. By acquiring a hydropower plant that has recently been constructed, we have also diversified our investment portfolio further by project phase. We look forward to continuing our excellent relationship with Fossberg Kraft AS to further expand our Norwegian hydropower portfolio.
“As a certified B Corp, we are committed to responsible investing and delivering on the strategy. We look forward to adding further attractive projects to our portfolio in due course.”
Downing’s Energy and Infrastructure team has made more than 175 investments and has c.£785 million of assets under management- consisting of solar, wind, hydro and battery storage technology.
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Downing LLP does not provide advice or make personal recommendations and investors are strongly urged to seek independent advice before investing. Investments offered on this website carry a higher risk than many other types of investment and prospective investors should be aware that capital is at risk and the value of their investment may go down as well as up. Any investment should only be made on the basis of the relevant product literature and your attention is drawn to the risk, fees and taxation factors contained therein. Tax treatment depends on individual circumstances of each investor and may be subject to change in the future. Past performance is not a reliable indicator of future performance. Downing LLP is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 545025). Registered in England No. OC341575. Registered Office: Downing, 10 Lower Thames Street, London, EC3R 6AF.
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