Hydro: completes merger of hydropower assets with Lyse
(CercleFinance.com) - Hydro has completed the merger of its hydropower production unit with its Norwegian peer Lyse, the industrial groups said on Monday.
Hydro and Lyse said that they merged their power production assets in the south-west region of Norway on 31 December 2020, through the establishment of a new company named Lyse Kraft DA.
The company includes Hydro's hydropower assets Roldal-Suldal Kraft (RSK) alongside the biggest part of Lyse's power production portfolio.
Following the deal, Hydro is Norway's third-largest operator of renewable energy.
In October 2020 Hydro and Lyse announced that they planned to merge part of their respective hydropower production in southern Norway into a joint hydropower company.
Hydro owns 25.6% of the new company, with Lyse the remaining 74.4%.
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