Talanx Group invests in Swedish hydropower

Written by Dan McGrath

22/6/2023

Talanx Group has announced that it is investing in green electricity produced by a portfolio of 15 hydro plants located on three Swedish river systems.

The move by Talanx comes as the group looks to expand its support for its transition to green energy and enhance its role as a renewable investor.

The investment, via Ampega Asset Management, for the 15-year power purchase agreement (PPA) is in the three-figure millions of euros, with partners Augusta Investment Management and German energy company Uniper.

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

Uniper owns and operates the plants, which have been feeding electricity into the Swedish grid for decades. Augusta Investment Management, which initiated the transaction, has a two-terawatt hour portfolio of similar investments and substantial experience with hydro plants in northern Europe.

Talanx AG’s chief financial officer, Jan Wicke, said: “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.

“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.“

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