The transaction was closed without disclosure of financial details.
“By divesting Vergia, we are focusing and optimizing our portfolio, and reducing our exposure to capital intensive activities in line with strategy. We believe Swiss Life Asset Managers is the perfect owner to take Vergia’s positions to the next level,” says Benjamin Golding, CEO of Arendals Fossekompani.
“We are delighted to have gained the trust of Vergia, its shareholders and its highly experienced management team and to be part of their onward journey”, says Marc Schürch, Head Renewable Energy at Swiss Life Asset Managers.
Vergia was established by Arendals Fossekompani in 2022 to initiate new energy projects, spanning from the production of energy from renewable sources to the establishment of an energy park for renewable industries.
At the time of divestment, Vergia consists of the central Vergia team as well as a portfolio of three ownership positions: 48.1 percent ownership of offshore wind energy developer Seagust, 47.9 percent ownership of green ammonia company North Ammonia, and 30.4 percent ownership of Power-to-X company HydePoint.
The transaction does not include Kilandsfoss Hydropower Plant (under construction), Glomsdam Hydropower Plant (project) and Bøylestad Energy Park (project). These assets are now part of AFK Vannkraft and AFK Property.