Aberdeen Investments said that through SL Capital Infrastructure I LP (SLCI I) it has reached financial close on the sale of its entire stake in enewable energy firm Aventron Norway to SEB Nordic Energy through Locus Energy.
“The transaction concludes a multi-stage competitive sale process and crystallises a positive outcome for SLCI I investors despite a challenging market backdrop for renewable energy assets especially in Norway,” said Aberdeen Investments.
“SLCI I entered the Norwegian hydropower market in 2015 through the acquisition of Nordic Power, an owner and operator of 15 hydropower plants located primarily in Norway’s Northern regions.
“In 2021, Nordic Power merged with aventron Norway AS, a portfolio of hydropower and wind assets owned by Switzerland-based power producer, aventron AG.
“The merger represented a transformational milestone in aventron Norway’s development, materially enhancing its scale, diversification and resilience.
“The combined platform counted 44 generation assets and benefited from greater technological diversification through the addition of wind power, alongside increased geographic diversification across all five of Norway’s power price regions.
“This strengthened the business’ profile and enhanced its ability to capture value across varying market conditions.
“Throughout the Fund’s ownership period, SLCI I pursued an active value creation strategy focused on strengthening, diversifying and de-risking the business.
“In addition to the successful merger with aventron Norway, key initiatives included two refinancings that optimised the capital structure, targeted operational and production strategy enhancements, disciplined capital investment programmes across the asset base, and the appointment of a leading strategic maintenance partner to support long-term operational performance.
“The business also completed three bolt-on acquisitions, further increasing scale, enhancing portfolio quality and broadening its appeal to strategic and financial investors.
“The conclusion of the sale process validates the strategic rationale underpinning the 2021 merger between Nordic Power and aventron Norway, which created a scaled and diversified renewable energy platform capable of attracting strategic interest and delivering value for investors.”
Graeme Dunbar, Senior Investment Director, Economic Infrastructure at Aberdeen Investments, said: “Over our eleven -year ownership period, we have worked closely with local operating partners and the aventron team to execute a disciplined value creation strategy that has transformed the business into a larger, more diversified and more resilient renewable energy platform.
“The successful realisation of our investment demonstrates the benefits of active asset management and long-term stewardship and has delivered a positive outcome for SLCI I investors despite a challenging market environment. This transaction represents the Economic Infrastructure team’s fifth realisation in 2026 and the fourth from SLCI I.”