Purchase of all shares in Minihydro Norge AS, and merger of the company into Norwegian Hydropower AS.
Our subsidiary Norwegian Hydropower AS (Norhydro) has bought all the shares in Minihydro Norge AS (Minihydro), and will continue operations by merging Minihydro into Norhydro.
Since start-up, Minihydro has supplied electromechanical equipment (turbines, generators, switchgear, control systems, etc) to 20 power plants in Norway, with machine capacities in the range of 1-5 MW each.Total installed machine capacity is accumulated to approx. 65 MW, which represents approx. 250 GWh in annual energy production.
After the transaction, Norwegian Hydropower AS will remain as the largest shareholder of Minihydro Modules AS by 45%. Minihydro Modules AS is the owner and supplier of the patented Low Head concept, a threshold based power plant concept with standardized generator modules.
