Kvale advises KKB on expansion in Norway

Kleinkraftwerk Birseck AG (KKB) takes over a portfolio of small hydro power plants from Alpiq, among other the 4.8 MW Sevre power plant in the south of Norway.

KKB and Alpiq signed a share purchase agreement for the takeover of five small hydro power plants of Alpiq Ecopower Scandinavia. The portfolio consists of the 4.8 MW Sevre power plant, a minority stake in the 5.2 MW Stølsdalselva power plant, as well as three projects in planning with a combined capacity of a further 11.5 MW.

The purchase is an important milestone in the growth strategy of KKB in the segment of hydro power generation in Norway. KKB Norway plans to own and operate 40 MW of hydro power capacity by 2020. The hydro investments in Norway ideally complement the solar and wind investments in other KKB target countries.

Kvale has assisted KKB in this transaction as well as in earlier transactions in Norway.  The team from Kvale include partners Christian Poulsson (Energy) and Marius L. Andresen (Corporate M&A).

See www.kkbenergy.com for further details.