significant strengthening of hydro portfolio in Norway, further solar acquisitions in Italy
aventron expands its hydro portfolio in Norway. The 3.4 MW Kupe power plant north of Bergen completed construction phase on time and started producing while the 4.8 MW Geitani project, acquired in 2015, entered construction phase. In Helgeland aventron acquired the 1 MW Sakrisoga and the 1 MW construction project Laskbekken, both in vicinity of the existing Strandfjordselva plant. Finally aventron was able to acquire the 2.5 MW river power plant Syversaetre Foss Kraftverk AS north-east of Oslo.
Over the course of the last month aventron signed purchasing agreements for projects ready for construction with a total capacity of 14.4 MW. The total portfolio size including the projects for construction has now reached 44.9 MW. The company anticipates that it will reach its goal of 60 MW by 2020 for hydro in Norway. Over the entire aventron group the goal is to reach 150 MW in small hydro capacity by 2020 (per end of 2016: 75 MW).
Hydro power is an important strategic pillar in aventron’s investment strategy. It acts as natural hedge to the solar power production, which by end of 2016 represented 80 MW in capacity in the group’s portfolio.
aventron furthermore signed purchase agreements for the acquisition of several solar PV plants in Italy with a total capacity of 8.4 MW. The portfolio consists of seven ground based plants with power ratings from 0.9 to 2.5 MW in the Marche region. The plants were commissioned in 2011 and generate about 10.7 GWh per year. The transaction is expected to be closed beginning of July. With this transaction aventron’s PV portfolio in Italy has grown to 34 MW.