LOCUS ENERGY AND FLOWER PAVING THE WAY FOR THE FUTURE OF THE PPA MARKET

SEB Nordic Energy’s portfolio company, Locus Energy, enters a long-term Power Purchase Agreement (PPA) with Flower, a market leading flexibility trader and optimizer in Sweden. The agreement covers approximately 180 GWh per annum of Locus Energy’s Swedish wind portfolio, including a newly acquired wind farm comprising of 12 WTGs at a total of 30 MW located in Krokum Municipality.

The PPA includes a total of 30 WTGs spread over wind farms in SE2, SE3 and SE4 price areas. Two of the included wind farms are currently undergoing Locus Energys soft repowering process, where older wind turbines are replaced with new ones, while retaining the existing infrastructure in roads, grid connection, tower and foundation. Once all of the assets are fully operational in Q3 2025, the full portfolio will reach an annual production of approximately 180 GWh.

“Locus Energy is currently finalizing the first of several wind farm projects where additional energy is unlocked from existing assets through the company’s active repowering efforts. The upgrades that Locus has carried out across several wind farms have demonstrated significant value creation to our investors. This PPA marks another step in our value-add strategy, securing stable cash flows for both the newly upgraded assets and parts of the operational portfolio” says Elin Löfblad, Portfolio Manager, SEB Nordic Energy.

Included in the now signed PPA is Storrun Wind farm, an acquisition made by Locus Energy in parallel with finalizing the PPA with Flower. Storrun, located in Krokoms Municipality in Jämtland, Sweden, comprises of a total of 12 WTGs and has had a stable annual production of approximately 65 GWh since COD.

“We continue to build a diversified portfolio through investments in renewable energy production assets combined with battery storage systems across all price areas in the Nordics. Our new partnership together with Flower adds another layer of diversification by hedging a portion of the portfolio’s revenue over the coming years. A key foundation of the PPA is our investment in increased asset controllability, enabling better real-time power output management for down-regulation and curtailment. We look forward to the collaboration with Flower over the coming years” says Mattias Söderqvist, partner and deputy CEO, Locus Energy.

The collaboration between Locus Energy and Flower rests on a common belief in a sustainable energy future enabled by viewing energy production and storage assets as an integrated system, creating increased flexibility and a premium, both in terms of revenue but also in value creation towards the grid. The now signed PPA is a testament to Flowers ambition to, in collaboration with partners, fundamentally change the PPA-market.

“We have sincerely appreciated the dialogue with Locus Energy. This agreement underscores our commitment to providing scalable financing solutions for renewables by leveraging our leading technology platform and flexible assets as tools to take responsibility for and manage the profile risk in a systematic way - the missing piece in the energy transition,” says John Diklev, founder and CEO of Flower.

SEB Nordic Energy SEB Nordic Energy is focusing on direct investments in renewable energy infrastructure assets in the Nordic region. Investments are being made in small-scale hydropower, wind power, solar energy, battery storage and energy efficiency solutions, both through new construction and through upgrading of existing facilities to increase efficiency and energy production. The fund is open to 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.
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 assets for sustainable local energy production that can be upgraded with new technology to accelerate development and is currently present through direct investments in Sweden, Norway and Finland. Locus Energy | www.locus.energy

Flower Flower is Sweden's market leader in battery storage trading and optimization. By combining cutting-edge software technology with flexible energy assets, Flower is facilitating the renewable energy systems of tomorrow. With a focus on rapid expansion into selected European markets, Flower is breaking new ground towards a fossil-free energy system, enabling clean energy to power society. For more, visit: www.flower.se

For further information, please reach out to
Niklas Sörensen, CEO, Locus Energy, niklas@locus.energy +46 70 268 97 35
Elin Löfblad, Portfolio manager, SEB Nordic Energy, elin.lofblad@seb.se, +46 70 739 29 86