Talanx Group invests in Swedish hydropower

Πέμπτη, 22 Ιουνίου 2023 13:57
  • Long-term partnership with Uniper has a transaction volume in the three-figure millions of euros
  • The Group’s first hydropower investment diversifies and expands its pan-European commitment to renewable energies
  • Talanx is continuing its evolution into a leading renewables investor and underscoring its sustainable investment policy

The Talanx Group is investing via Ampega Asset Management in the green electricity produced by a portfolio of 15 hydro plants located on three Swedish river systems. The transaction volume for the 15-year power purchase agreement (PPA) is in the three-figure millions of euros. Talanx’s partners in the deal are Augusta Investment Management and German energy company Uniper. The latter owns and operates the plants, which have been feeding electricity into the Swedish grid for some decades now. The innovatively structured investment expands the Talanx Group’s support for the transition to green energy and enhances its role as a leading renewables investor.

“This transaction is particularly important for the Talanx Group: our first investment in hydropower adds a new dimension to our existing extensive portfolio of renewable energy investments”, said Dr Jan Wicke, Talanx AG’s Chief Financial Officer. “As a leading investor in this area, we are helping to continuously expand investments in renewables and increasingly contributing to the transition to sustainable energy. The move also underscores just how important ESG criteria are to our investment strategy and reinforces our wide-ranging sustainability strategy even further.“

Augusta Investment Management, which initiated the transaction, has a two terawatt hour portfolio of similar investments and substantial experience of hydro plants in northern Europe. It has been engaged as the asset manager for the duration of the investment.

The transaction volume for the 15 river hydro plants corresponds to an annual electricity generation figure of approximately 350 gigawatt hours. This is the equivalent of the electricity consumed by the eastern Swedish city of Umeå, for example, which has roughly 84,000 inhabitants.

Sweden is an attractive market for hydropower investments: 45 percent of the electricity consumed by the country each year is generated in its more than 2,000 hydro plants. In line with this, the country has a highly developed renewal energy market with a stable legal framework.

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