B Capital Partners makes an investment in the Norwegian hydropower company Bekk og Strøm
Bekk og Strøm AS (BoS) owns and operates 22 small scale hydropower plants in Norway with a total production of 155 GWh as well as a development portfolio.
B Capital Partners AG, an infrastructure investment specialist based in Zurich acquires a 36% stake in BoS via its Luxemburg BC-ETIF TOR fund. BC-ETIF TOR invests exclusively in sustainable infrastructure in the energy transition sector. The longstanding minority shareholder has decided to leave the energy sector for internal reasons.
enso hydro GmbH remains the majority shareholder. It is an investment company owned by Austrian investors and the German hydropower-investment fund DWS Access Wasserkraft Beta KG, which is the majority shareholder in, altogether, 26 hydropower plants in Norway, Austria, Albania, and Turkey. enso GmbH, a renown and experienced Austrian based hydropower developer manages the hydropower investments.
Wolfgang Kröpfl, CEO of enso hydro GmbH is looking forward to having found a partner with B Capital Partners AG, who is not only interested in hydro power in Norway but also stands for future growth and sustainable engagement in this market.
B Capital Partners AG has studied the Norwegian hydro power market for several years and has looked for a suitable opportunity together with a strategic partner. B Capital Partners AG is excited to have implemented the strategy via its new partnership with enso.
The medium to long-term goal is to further strengthen BoS’ market position in Norway and to grow its hydropower portfolio to 500GWh. The focus remains on the strategic development of the company, as already evidenced by a larger transaction with an investment group of several Finnish utilities.