FURTHER ACQUISITION OF LOCAL WIND POWER PRODUCTION IN VÄSTRA GÖTALAND

SEB Nordic Energy, through its portfolio company Locus Energy AB, is expanding its cluster of local wind power production in Västra Götaland through the acquisition of the plant Vara Kroken in Vara municipality, bidding area SE3.

Locus Energy has taken possession of the Vara Kroken wind plant through its subsidiary Locus RePower. The plant is a Vestas V90 MK7 turbine with an installed capacity of 2 MW and an annual average production of 5.5 GWh and a 30-year lease agreement. The seller was Lundby Vind. The acquisition of Vara Kroken follows Locus Energy's investment strategy to build clusters of existing assets with upgrade potential. In the previous acquisition in the region, in March 2024, three wind plants were acquired from Mölndal municipality. Through the incorporation of Vara Kroken, this cluster is now expanded to ten facilities.

"Our concept for so-called soft re-powering, where we to the greatest extent possible make use of existing infrastructure such as grid connection, foundations and towers, and over time upgrade with new turbines and supplement with solar production and battery storage, means that we combine a strong investment and sustainability case." says Niklas Sörensen, CEO of Locus Energy.

"We have appreciated a quick and smooth deal with a new competent owner who, with their in-depth technical knowledge of wind power, can further develop the plant ," says Joppe Perssonat Lundby Vind.

"SEB Nordic Energy offers the opportunity for institutional customers to invest in local projects that contribute to both increasing energy production and accelerating the sustainability transition in Nordic municipalities – upgrading local wind power is a good example of this," says Richard Gavel, Portfolio Manager, SEB Nordic Energy

A team consisting of MAQS Göteborg (legal) and Ramboll Sweden (technology and environment) has advised the buyer.

SEB Nordic Energy is a fund that focuses on direct investments in renewable energy infrastructure assets in the Nordic region. Investments are being made in small-scale hydropower, wind power, solar energy and geothermal energy, both through new construction and through upgrading of existing facilities to increase efficiency and energy production. The fund is open for professional investors with an investment horizon of more than 15 years and is a so-called Article 9 fund with sustainable investments as its objective. The fund is managed within the SEB Asset Management division, which offers a full range of asset management and advisory services, including fund management. SEB Nordic Energy | SEB (sebgroup.com)

Locus Energy is a portfolio company of the Article 9 fund SEB Nordic Energy with access to Nordic institutional capital. Locus Energy invests in facilities for sustainable local energy production that can be upgraded with new technology to accelerate development and is currently present through direct investments in 52 Nordic municipalities.

For further information, please contact:

Niklas Sörensen, CEO, Locus Energy, niklas@locus.energy +46 70 268 97 35

Richard Gavel, Portfolio manager, SEB Nordic Energy, richard.gavel@seb.se + 46 70 772 32 53