Swiss Life Asset Managers has completed the acquisition of Vergia, a Norwegian green energy transition platform, from its previous owner Arendals Fossekompani, signaling a strategic move into the burgeoning Power-to-X sector.
The investment funds managed by Swiss Life Asset Managers will support Vergia's growth and the realization of key projects, including a flagship green ammonia plant in Arendal, Norway.
Marc Schürch, Head of Renewable Energy at Swiss Life Asset Managers, highlighted the strategic importance of the acquisition: “The acquisition of Vergia marks the first step in establishing a platform focusing on Power-to-X for our managed funds. Europe's target to become climate neutral by 2050 can only be achieved if all main forms of energy are being decarbonised – electricity, heating, and fuels.”
He elaborated on the potential of Power-to-X technology: “Power-to-X utilises electricity generated from renewable sources to produce hydrogen and sustainable fuels. In this context, Norway has some of the most attractive locations in Europe – if not globally.”
Vergia, headquartered in Norway and founded in 2022, specializes in developing infrastructure projects within the energy transition sector, particularly focusing on Power-to-X and offshore wind technologies.
Schürch emphasized the strategic advantages of Vergia's location and capabilities: “We are therefore delighted to base the establishment of our platform on the acquisition of Vergia. Besides the location, its highly experienced management team, the interesting project pipeline, and the very strong partners in the various portfolio companies create an excellent foundation for building a successful platform.”
