Increased commitment to renewable energies
The investment by the LHI Group and the Versicherungskammer Group, the largest public insurer, is a sustainable portfolio consisting of five hydroelectric power plants located throughout Norway.
The total installed capacity is approximately 15.5 MW. The power plants have been in operation since 2011 to 2015, generate around 39 GWh of electricity annually, and supply approximately 9,750 four-person households with renewable electricity.
Georg Distler, Head of Infrastructure Investments at Versicherungskammer Group: “The investment in Norway expands our portfolio and strengthens our geographical diversification. Our investments in wind and solar energy are complemented by commitments to another type of energy generation, which has a very positive effect on the resilience of the portfolio. With this investment, we are once again demonstrating our commitment to our sustainability strategy. Versicherungskammer is taking another consistent step on the path to net zero, thereby once again supporting global climate protection goals.”
“The acquisition of the five hydroelectric power plants further diversifies our fund offering in the renewable energy asset class. Norway is a pioneer in electricity generation from renewable energy sources and therefore an attractive investment country for our investors”, said Dieter Seitz, Managing Director of LHI Capital Management GmbH.
With this investment, the LHI Group is expanding its expertise in the field of renewable energies. In addition to its previous investments in wind, solar, and charging parks, the second portfolio purchase of hydroelectric power plants will now also expand this area.
The total output of all renewable energy plants managed by the LHI Group for Versicherungskammer amounts to over 400 MW/MWp. In 2022 alone, these plants saved around 216,000 tons of CO2. In addition, these assets generated around 550 GWh of electricity in 2022, which corresponds to the consumption of approximately 137,000 four-person households.
