LOCUS ENERGY, SEB NORDIC ENERGY’S PORTFOLIO COMPANY, ENTERS THE FINNISH MARKET BY THE ACQUISITION OF MÄKELÄNKANGAS HYBRID WIND & SOLAR PARK OUTSIDE HAMINA

Locus Energy AB has acquired 100% of Mäkelänkangas hybrid wind & solar park located in Hamina Municipality east of Helsinki in southern Finland. The seller is Suomen Voima Oy, which is owned by a consortium of 16 Finnish municipal energy companies. The portfolio consists of four operational wind turbines and 11 000 m2 of solar with a combined annual capacity of 17 GWh

The acquisition marks Locus Energy’s entry to the Finnish market after having previously built a portfolio of hydro and wind assets in Sweden and Norway. The Mäkelänkangas hybrid park was originally commissioned in 2012 (wind) and 2016 (solar) and has land lease agreements with the city of Hamina. In accordance with the fundamental business idea of Locus Energy, an optimization plan will be implemented after the transfer of possession including refurbishment of the assets as well as preparing for add-on investments in energy storage.

“We are happy to have accomplished our first acquisition in Finland, and the trust shown by Suomen Voima's owners to let Locus Energy take on the responsibility for the continued development of the hybrid park in Hamina. Finland is a core market for Locus Energy where we are currently building a pipeline of both wind, hydro and CHP assets” says Niklas Sörensen, CEO at Locus Energy.

“Mäkelänkangas was one of Suomen Voima's initial investments, and we are pleased to see Locus Energy as the site's successor, demonstrating both the willingness and capability for further development“ says Pekka Saijonmaa, CEO at Suomen Voima

"Combining multiple technologies such as wind and solar in suitable locations is an excellent way to use both the grid connection and other site infrastructure in the most efficient way. Adding other technologies, such as batteries, will further increase the efficiency as well as returns", says Elin Löfblad, portfolio manager, SEB Nordic Energy.

A team consisting of Valor Partners (financial), Castrén & Snellman (legal) and Ramboll (technical) acted as advisors to the buyer.

Locus Energy is a portfolio company of the Article 9 fund SEB Nordic Energy with capital from Swedish and Nordic pension funds. Locus Energy invests in assets for sustainable local energy production that can be upgraded with new technology to accelerate the development. With the acquisition of Mäkelänkangas, Locus Energy is present through direct investments in 45 municipalities throughout Sweden, Norway and Finland.

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