Swiss Life Asset Managers buys P2X platform Vergia in Norway

Swiss Life Asset Managers said today it has acquired Norwegian green energy transition platform Vergia, which, as its flagship project, is developing a green ammonia plant at the Eydehavn port in Arendal.

The asset manager has bought Vergia for and on behalf of several investment funds from previous owner Arendals Fossekompani. The parties have agreed not to disclose the value of the transaction.

Do you know we have a daily hydrogen newsletter? Subscribe here for free!

Established in 2022, Vergia is active in the development of energy infrastructure projects with a specific focus on Power-to-X (P2X) and offshore wind.

“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. 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,” commented Marc Schürch, Head Renewable Energy at Swiss Life Asset Managers.

The investment funds for which Swiss Life Asset Managers is making the acquisition “will finance the platform to enable its further growth as well as the realisation of first projects,” including the green ammonia scheme in Arendal.