Uniper and Talanx Group via Augusta Investment Management have entered into a 15-year Power Purchase Agreement (PPA), after working on the agreement over the last several months.
Sydkraft Hydropower AB, Uniper SE’s hydro production unit in Sweden, is selling a percentage of the actual power production from 15 of its different hydropower plants. These power plants are in the Swedish price zones SE2 and SE4. The total volume of the transaction is expected to be around 5.3 TWh.
The recently concluded agreement increases Augusta Investment Management’s Nordic reservoir hydropower portfolio to more than 2 TWh of annual generation. Ampega Asset Management, which is responsible for the Talanx Group's asset management, backed Augusta Investment Management in this transaction, making its first investment in Nordic hydropower, adding to its substantial portfolio of renewable energy investments.
